Instead of paying for goods and services with cash or credit cards, customers could soon be paying with a wave of the hand as the latest wireless payment system from American Express (AMEX) continues to expand.
The ExpressPay wireless payment system ( www.americanexpress.com/expresspay) uses radio frequency identification chip technology from Texas Instruments (TI) embedded in a keyfob. Customers simply wave the keyfob in front of a special POS reader to make a virtually instant payment transaction. The result is greater throughput for retailers and happier customers who appreciate speedier transactions and shorter checkout queues - plus the added benefit of not having to find cash or fumble for credit cards. It is just a case of wave and go.
With the new ExpressPay system, typical payment transactions average just 8,9 seconds, says TI - about 28% faster than cash and 42% faster than credit card transactions.
In just a few months the initial launch programme that began with 175 retail and service locations has doubled to more than 350 outlets in and around Phoenix in Texas. In addition, says AMEX, thousands of customers have signed up to take advantage of the program by registering their bank details, etc, so that payments are automatically charged to their chosen account giving them the freedom to shop without cards or cash. Similar programmes are also underway by American Express in Singapore, involving some 2000 current American Express card members.
For more information contact Les Bidgood, Arrow Altech Distribution, 011 923 9600, [email protected]
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