Will Credit Cards Go Obsolete?

Sept. 2, 2009 - PRLog -- Are credit cards going obsolete?

Introducing A New Payment Method That Could Make Credit Cards Obsolete

At Contactless, a leading provider of advanced, open-standard contactless chip technologies, and First Data, a global leader in electronic commerce and payment processing services, announced that they have signed a three-year agreement to develop contactless payment stickers, which will be marketed by First Data as GO-Tag products. With this agreement, INSIDE will supply MicroPass payment sticker prelams exclusively to First Data-qualified card manufacturers for production.

The agreement leverages the core technology from INSIDE Contactless and the issuing and transaction processing power of First Data. First Data will be marketing and distributing GO-Tag products to financial institutions, major U.S. merchants, and other distribution channels in a variety of form factors.

The general manager of Mobile Commerce and Point of Sale Solutions for First Data, Barry McCarthy, said that "First Data's GO-Tag Solution represents an important step in the evolution from today's plastic cards and fobs, offering a bridge to the future of mobile payments". "Our partnership with INSIDE Contactless enables us to offer consumers an opportunity to turn just about any personal item, from a mobile phone to an employee ID badge, into a payment device."

It's the versatility of the MicroPass platform to support a variety of contactless payment applications and form factors, also stickers, that highlights their agreement.

You might also want to consider updating your restaurant POS system to Contactless credit card acceptance in the near future, because their technology is becoming more and more common in the marketplace. Customer service is all about speed and the faster we can process transactions at the restaurant point of sale terminal the better our customer experience will reflect on the value of our services.

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The author of this article is the VP of Customer Relations at POS-For-Restaurants.com with over 20 years experience helping restaurants nationwide increase their efficiency and bottom-line profits using restaurant POS systems.

You may visit http://www.pos-for-restaurants.com for more information on how our national network of restaurant point of sale experts can help your business achieve greater success in these difficult economic times.

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