No more time-consuming credit card swiping. Credit companies want to save us the annoyance of both swiping and signing our names during credit card transactions. Blink technology may do just that. Take our fun quiz and see if this clever innovation is for you.
What's the difference between a blink contactless credit card and a regular credit card.
The blink card is blue.
The blink card is round.
The blink card can be read by a special machine.
Blink credit cards do everything a regular credit card does. The key difference is that the blink card can be read by a special machine from a few inches away, eliminating the need to hand over your card to a store employee for swiping.
What are the obvious advantages of a blink card for the consumer?
both of the above
You can keep your blink card in your hand at all times. Embedded within your blink card is a small RFID (radio frequency identification) microchip that is read quickly by the terminal, which checks with your bank and confirms payment.
Which technology did Mobile introduce in 1997 to speed up payment at the gas pumps?
You can use Speedpass to pay for your gas without ever taking a credit card out of your pocket. Just wave your special keychain fob in front of the Speedpass logo on the gas pump and the cost of the gas will be deducted from your account.
At which of the following places do people most hate to stand in line?
the doctor's office
A JPMorgan Chase & Co. survey found that the top two places people hate to wait is at the doctor's office and at the department of motor vehicles. Blink technology is touted as an important innovation that will save you time waiting on lines.
The biggest problem with blink cards is the possibility that a terminal will read your card accidentally. What precautions might be implemented to prevent this from happening?
positioning the terminals carefully
using RFID blocking wallets
both of the above
If you're worried that you may end up paying for someone else's purchases by simply getting too close to a blink terminal, you've got reason to be concerned. Check to be sure stores have taken proper precautions and store your blink card in a wallet or sleeve lined with metal to protect you from all unwanted blink card activity.
What motivation besides innovation might Chase have for introducing blink cards?
People spend more money with blink cards.
One motivation for Chase's interest in promoting blink cards might be that research has shown that people spend more with blink cards than with regular credit cards. Banks need people to use their cards for spending.