May 24, 2005
Reuters: JPMorgan Chase & Co. on Thursday introduced a credit card that allows 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," will be marketed this summer and 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.
"It is a real time-saver for the consumer, and for merchants it is an opportunity to move more people through the line more quickly," Tom O'Donnell, senior vice president of Chase card services.
JP Morgan launches 'contactless' credit card [Reuters]
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