Friday, September 28, 2007

Visa Unveils New Contactless Payment Device..Visa Micro Tag

How much longer before this application is embedded in mobile phones.

Visa announced today the availability of the Visa Micro Tag, a new key fob payment device embedded with Visa payWave, Visa's visa contactless contactless technology feature. The Visa Micro Tag is designed to easily attach to a key ring, and it allows cardholders to pay by simply waving their Visa Micro Tag in front of a contactless smart card reader without the need to physically swipe or insert the device into a point-of-sale terminal.

The Visa Micro Tag allows financial institutions to offer cardholders a companion smart card device to an existing Visa credit, debit or prepaid account. Designed to be small and durable, the Visa Micro Tag makes paying for purchases faster and more convenient.


Dean Collins said...

Is this a closed proprietary system where only visa fobs work with visa specific cash register readers or will mastercard be able to license the intellectual property so that each retail outlet doesn't have to purchase two of these readers.

Unfortunately I think it's proprietary and if so....WTF is the point. Get it together system architects and realise there is a reason people have stuck with mag stripes for so long.

Dean Collins

Scott Shaffer said...

It is my understanding Verifone has/is upgrading their readers to accomodate Visa, MC and Amex fobs.

Why are your comments always so negative?

I envy you being the only person that succeeds with every venture because you're so critical of others.

Scott Shaffer said...

"there is a reason people have stuck with mag stripes for so long."

Cashiers used to manually enter credit card numbers at registers too.

Should we go back to those days?

Scott Shaffer said...

Here's a story you should read about the upcoming transformation.

The Shift Away From Plastic

VeriFone is a leading provider of point-of-sale hardware and software that enable electronic payment transactions between consumers, merchants and financial institutions.

VeriFone is ideally positioned to take advantage of the world's continuing move to become cashless.

Does it make any sense for VeriFone to offer a solution for only one credit card company?

p.s. the next "WTF is the point" development will be mobile phones being scanned at the register instead of key fobs....

Anonymous said...

you ask how long will NFC (Nearfield Communicatrions) be imbedded in cellphones for pay by phone. Sirit (SI) on TSX has done work for both Kyocera and Ben-Q for pay by cellphone.
I believe Nolkiia also has a pay by cellphone but they used a different company for the technology.
Kyocera just finished a successful test in Carolina.
Dr. Mike

Anonymous said...

“Time to market is critical to our success…Leveraging
their demonstrated expertise with embedded NFC
software and successes working with OEMs, we are
confident in the Sirit’s NFC team’s ability to help
accelerate our time to market.”
- Dr. SS Chen, Associated VP of Mobile
Communication Business Group, BenQ Corp.

“We will leverage Sirit’s technological expertise and
strong engineering support capabilities to accelerate
the availability of NFC in Kyocera handsets.”
- Terry Lingren, VP of Engineering,
Kyocera Technology Research Corp

“As one of NXP Software’s most trusted NFC technology
partners, Sirit has the proven ability to develop and support
innovative NFC architectures and designs utilizing NXP
Software’s offerings. We are confident that mobile phone
manufacturers who work with Sirit will accelerate their time
to market and shorten their design cycles in the
development of NFC enabled mobile phones.”
- Harrie Tholen, Director of Sales & Support, NXP Software
Dr. Mike