May 24, 2005—Last week, Chase’s credit cards division became the first credit card issuer to announce a contactless payments program. Beginning this summer, it will issue MasterCard and Visa credit cards embedded with RFID tags used to make transactions via radio communication with an RFID-enabled payment terminal. Chase calls the contactless functionality 'blink,' and plans to begin sending blink cards to millions of MasterCard or Visa cardholders in two undisclosed U.S. cities in late June, according to Scott Rau, senior vice president of payments at JPMorgan Chase & Co, which owns Chase credit cards.

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