Former Chase executive
As part of the deal, Chase agreed to shift additional credit- and debit-card volume to Visa.
"Chase is getting the benefit of volume discount pricing,"
For consumers, the key question is whether any benefits, including car rental insurance and extended warranty, will be inferior to what they used to be under
"Depending on the impact and the importance of those benefits to you, you may want to open a
As for Blink, which Chase still bills on its Web site as a "faster, easier way of making purchases without ever letting go" of a card, Nilson Report's Robertson said that there had been an expectation that "contactless" payments are "taking forever to play out in the market" despite big expectations.
And many believe the future of contactless payments will be through smartphones, not on plastic cards, Robertson said.
The other side of the equation, Robertson said, are the merchants.
Contactless payments are appealing to quick service restaurants and convenience stores because the technology can significantly reduce checkout times, said
Misasi said only 10 percent of retailers currently offer contactless payments.
Banks are already working to equip their card portfolios with embedded chips, which are believed to be safer than those with magnetic strips but are also more expensive, adding another deterrant to keeping up with expensive contact-less technology.
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