JP Morgan Chase to Roll Out Proximity Bank Cards

May 24, 2005
Cards will not have to be swiped, can simply be waved in front of readers

US bank JP Morgan Chase is planning to issue credit cards in America that can be waved in front of a reader instead of being swiped. The cards, which will not require a signature, will be quicker to use. Banks claim they are more secure against fraud because they do not leave the customer's hands.