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Visa and MasterCard introduce "speed shopping" credit cards

02/09/2010 - By Rachel Stolzberg

Two credit card companies introduce "speed shopping" cards.

Tag: Credit Card Processing

Merchants who accept Visa and MasterCard have taken note of speedier shoppers thanks to a new type of credit card.

The two credit card companies have introduced "speed shopping" credit cards to Australian shoppers, the Herald Sun reports. With these cards, consumers are able to avoid swiping, signing or typing in a PIN.

Shoppers spending less than $100 are able to simply place the credit or debit card on a point-of-sale terminal at checkout, pay and go.

Currently, retailers including 7-Eleven, IGA, Red Rooser, Boost Juice, Sumo Salad and FoodWorks accept the cards, with a number of supermarkets expected to implement the technology, according to the paper.

MasterCard Australasia vice president Eddie Grobler called the technology the "next phase to replace cash."

This new credit card comes among a slew of recent efforts to speed payment options and make them more efficient. Earlier this month, Visa introduced a prepaid card that acts as fully-functioning debit card, transit pass and event ticketing device.ADNFCR-3381-ID-19935448-ADNFCR

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