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

    Source Daily Mail via NewsEdge Corporation

    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.