http://news.com.com/2100-1001-977829.html?tag=fd_top
MasterCard tests high-tech payments By Alorie Gilbert Staff Writer, CNET News.com December 13, 2002, 8:01 AM PT MasterCard is testing a new credit-card system designed to speed the payment process at check-out counters and replace cash transactions at places such as movie theaters and fast food restaurants. The system, called MasterCard PayPass, allows consumers with specially equipped credit cards to simply tap or wave their cards against a reader to make a payment, rather than having to swipe the card. If the value of the purchase is under a certain amount, the cardholder needn't sign a receipt. The cards come embedded with hidden computer chips and radio antennae, which transmit payment details wirelessly. The cards can also be used with traditional magnetic stripe readers. ... snip
