Credit and Debit cards are becoming the preferred method of payment instead of cash. â€œIn 2003, debit and credit card swipes numbered more than 34 billion in the United States. Experts predict that by 2010, card transactions will surpass those made by cash and checks combinedâ€ (ABC News). Bases on this information if would make sense for MasterCard and a Philadelphia Coca-Cola bottler to begin to equip over 1,000 vending machines to have the ability to accept credit, debit cards and MasterCard's PayPass.
The machines also hosts a contactless technology that uses radio frequencies to transmit payment details between the card and the sensor. So no signing or swiping is required. Both Visa and American Express have contactless cards similar to MasterCard's PayPass and all have plans to include this technology in cell phones, subway systems, cabs and much more.
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