Amex Decides Express Pay Fob Doesn't Add Up - The Wall Street Journal
American Express is abandoning its "Express Pay" fob--a payment device that attaches to a key chain--six years after it began testing it. It plans to focus on its traditional cards instead--installing computer chips in them that allow customers to hold the card up to an electronic reader instead of swiping it through a device.
"We have actually found that our customers prefer to use the contactless technology through our traditional cards" rather than the key fob, says Richard Flynn, a svp who oversees "cardless" payments at AmEx.
Card issuers have been encouraging merchants to install the new readers, which are supposed to speed customers through checkout lines. Fast-food restaurants and drugstore chains have been among the most enthusiastic merchants to try the new technology. A report issued by Aite Group estimates that some 40,000 merchant locations are already equipped with contactless readers.
Interesting decision. Thought this may provide some insights or provoke discussion from some of you.
Are there amex fob users reading this blog?
Does anyone feel they have they answers to RFID or other contactless payments?
Do you feel that a RFID enabled payment system on your mobile handset is the solution?