Article: Consumers, Beware The New ?Wave? Of Credit Cards
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Consumers, Beware The New ?Wave? Of Credit Cards
J.P. Morgan Chase & Co., the nation?s #2 bank and leading issuer of credit cards, has announced it will issue new ?contactless credit cards? to its account holders beginning June 1. The new cards can be ?waved? in front of a special reader instead of being swiped through a traditional credit card terminal.
The new cards will contain a special chip which can be read by the merchant?s card reader. The reader will emit a beeping sound to signal that the transaction has been authorized after the customer ?waves? the card in front of it. Chase has about 94 million credit cards in circulation and is the first to issue both Visa- and MasterCard-branded cards with this new "blink" technology.
In a statement by Carter Franke, chief marketing officer of the credit card ...
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