MasterCard To Distribute RFID Credit Cards

wellington writes "Reuters is reporting that MasterCard expects to have 4 million "pay pass" cards in circulation by year's end. These new cards will be equipped with a radio-frequency chip that allows customers to pay for purchases by simply waving their cards at readers posted near cash registers or gas pumps." The cards, previously covered on Slashdot, were announced earlier this year.

Comments

Re:Theft!

[Ark42]

Generally, you can probably buy something and just say its fraud, keep the item, and get your money back with no hassle, if you don't do it that often. CC Companies and banks don't care one way or another, they do not take ANY of the hit from a chargeback. The entire chargeback comes from the merchant, on top of a chargeback fee of at least $35, so only the mercahnts are hurt.