New payment technology says goodbye to PIN codes – The Post

New payment technology says goodbye to PIN codes

Wireless card payment system introduced in Denmark

December 2nd, 2014 4:09 pm| by admin
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A new wireless payment system that does away with chips and PIN codes made its debut in Denmark today, DR reports.

The technology is being launched in Denmark by the supermarket chain Lidl and allows customers to pay by merely holding their payment card up to a terminal. It requires a card equipped with a so-called NFC (Near Field Communication) chip.

Potential user base on the rise
There are currently just 100,000 Danes with the technology in their cards, but Henning N Jensen, a consultant in the technology at the company Pluscon, told DR that it was on the rise. “By the end of 2016, we’ll have 4.5 million Dankorts and close to 1.8 million foreign credit cards, so that is quite significant,” he said.

“Americans use it for coffee-to-go when they go for their morning coffee at 7-eleven, Starbucks or elsewhere, and we’ll come to see that in Denmark.”