Visa releases swipeless smart card

SAN FRANCISCO, Calif.-Visa International has developed a chip-based card that will enable users to make payments without inserting or swiping their cards.

“Based on an international standard, ISO 14443, the new specification uses a chip embedded in a plastic card or an electronic device, such as a mobile phone,” said the company in a statement. “The card, mobile phone or other device is then held in front of a terminal and a wireless interface transits the payment information.”