Just Wave a Credit Card!

In the coming summer JPMorgan Chase & Co. is set to introduce a credit
card that will allow a consumer to merely wave it past a sensor to make
payments, a function already common at many U.S. gas stations. A top
issuer of credit cards in the United States, JPMorgan Chase said its new
credit card, called "blink," can be used in movie theaters, convenience
stores, specialty shops and drug stores.

Sheetz Inc., an East Coast convenience store chain, will be JPMorgan
Chase's first partner to launch a co-branded credit card with the
contactless feature. Another early adopter of the new card is convenience
store chain 7-Eleven which will test the card in 170 of its stores and
eventually will accept it at its 5,700 stores throughout USA. JP Morgan
Chase hopes its new card payment system will cut transaction times. At
drive-throughs, use of the new card system speeds transaction time by
20 seconds, the company said.

Also, consumers may soon be able to use this card at fast-food giant
McDonald's Corp. The new card will allow card holders to hold their card
at a point of sale terminal at checkouts, rather than swiping the card or
handing it to a store employee. As card members hold their card near the
point of sale terminal, the terminal will emit a signal or tone to confirm the
payment.

This new card payment technology has been used by customers at many
Exxon Mobil Corp. gas stations since 1997. The gas station's payment
card has a miniature transponder that is attached to a customer's key
chain and is waved in front of an electronic reader at pumps and checkout
counters. A credit card or check card designated by the customer is then
charged for the purchases.