PURCHASE, NY. — The decision of the $220 million Harvard University Employees Credit Union to begin issuing credit cards enabled with MasterCard's contactless technology is only the latest in what the card brand says is building momentum for the innovation.

The card brand said that as of the second quarter of 2007, 16 million cards have been issued with the PayPass contactless technology and that machines capable of reading the cards have been put into place by 55,000 merchant locations worldwide. The brand also reported that there are trials of the new technology in place in 19 countries as well.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.