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eMoney News

Contactless smart cards gaining ground
22 Apr 2010

The growing popularity of contactless smart cards has been highlighted by the development of new card readers at one company.

HID Global has expanded its line of multiCLASS card readers, which are designed to allow for retailers to migrate from magnetic stripe-based (magstripe) payments to contactless smart card solutions.

The company expressed the belief that contactless smart cards are becoming more prevalent, citing figures from IMS Research indicating that there could be one billion such cards in circulation by 2014.

Alan Fontanella, senior director of product marketing at HID Global's access management business, said: "Organisations that currently rely on magstripe technology can now more easily migrate to higher security and multi-use cards."

The development of new forms of technology supporting migrations could encourage more firms to sign up to schemes such as those run by sQuid.

In the UK, sQuid offers eMoney school catering and transit systems that make use of contactless smart cards