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Technology is moving forward with contactless products. Contactless products allow the consumer to purchase without a human intervention while using electronic technology to make purchases or payments. The most valued part of this new technology is that the consumer is apt to use this type of ‘card’ more often, thereby increasing the credit card company’s revenues. “Issuers hope contactless technology will help them convert the mostly cash payments at such locations into card transactions. The magnetic strip will remain on the cards for now for larger purchases.

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