Fergie's Tech Blog

Fed Weighs Future of Contactless Payments

Paul F. Roberts writes on InfoWorld:

You can call it 'cash 2.0': a new age of wireless payment technology that may replace even the smallest cash transactions in the coming years with the wave of a credit card or mobile phone.

But as major corporations like CVS, McDonald's, and Walgreens begin deploying new RF, or "contactless," payment technology, the Federal Reserve is taking a closer look at the technology and is asking the payment industry and card companies, among other questions, whether the new payment systems are secure.

posted by Fergie @ 6/28/2007 10:22:00 AM