Small and Midsize Retailers Get Contactless Credit Card Systems

Contactless credit cards using radio frequency identification (RFID) chips are a growing trend in the retail world, with over 17 million of the cards issued in the past year alone.  

North American Bancard today announced it is providing contactless payment systems to 3,000 small and midsize retailers, free of charge. 

Contactless credit cards do not have to be swiped or inserted into a reader.  They can be waved in front of or tapped on the credit card reader machine, making the transaction faster and easier to complete.  The advantage for retailers is that they encourage customers to buy more often — 18% more often than non-contactless cards.

Visa, Mastercard, American Express and Discover all offer contactless versions.  Contactless credit cards require a special card reader at the point of sale.  North American Bancard’s move will equip smaller retailers to accept the new contactless cards.

Read more at RFID Journal.