RFID Blink Smart Cards: Speed and Convenience

RFID Blink Smart Cards: Speed and Convenience: Chase To Roll Out Next Generation Payment Product This Summer

Chase will release RFID smart cards with blink capabilities ...

... "Chase Bank U.S.A., N.A., a division of JPMorgan Chase & Co. [NYSE: JPM], announced today that it will become the first bank to increase the speed and convenience of a credit card by broadly rolling out consumer cards with contactless functionality, called blink. Chase will begin a market-by-market rollout of the Chase credit cards with blink this summer, after working closely with merchants in each market to ensure the broadest possible acceptance at launch. Working in conjunction with Visa U.S.A. and MasterCard International Incorporated, Chase has identified merchants where speed and convenience are important to consumers, and has been actively building a roster of merchants in each market. Initially, Chase cardmembers will be able to blink at well-known movie theaters, convenience and specialty retailers such as 7-Eleven, quick service restaurants and drug stores. Chase will announce additional lists of specific merchants when they issue cards with blink in each market. " ...

The most significant timesavings can be realized in the drive-thru environment, where transaction time was reduced by as much as 20 seconds as compared to cash. Consumers also liked the convenience of not carrying cash for everyday purchases, meaning they no longer needed to fumble around for change and small bills, or be confined by the cash in their purses or wallets. In fact, 60 percent of respondents to a recent MasterCard survey said they use cash less often today than they did five years ago. For merchants, blink transactions speed checkout times and allow consumers to spend less time waiting in lines. Research has shown that customers who use blink cards often spend more per transaction and are happier with their store experience. Chase cards with blink also provide a reliable, trusted payment method that works well in environments where speed is important. JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm.