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Electronic transactions are advancing at a rapid pace, with banks and merchants looking for new ways to interface with consumers. There are also an ever increasing number of advanced transit system projects underway globally that provide the consumer with new ways to pay for not only transit items but also goods. These activities have led to the development recently of a number of contactless transaction systems that offer benefits for cardholders, merchants and banks. All the major credit card associations are leading this charge and finding that consumers are welcoming the convenience of this new contactless way to purchase goods and services targeted at low-value transactions. |