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The U.S. Bank Visa Micro Tag, the groups noted, easily attaches to a key ring and allows Micro Tag holders to simply wave and pay.
U.S. Bank plans to distribute more than 4,000 prepaid Visa Micro Tags to employees in November 2008 to collect feedback on design, functionality and ease-of-use of the devices. Employees across the country will receive the U.S. Bank Visa Micro Tag which is tied to a prepaid U.S. Bank Visa gift account. The U.S. Bank Visa Micro Tag can be used to make purchases anywhere Visa payWave is accepted.
The Visa Micro Tag was first introduced in 2007 and can be used with credit, debit or prepaid accounts. Micro Tags are enabled by Visa payWave technology, based on a tiny chip embedded in the device that enables consumers to pay by simply waving the U.S. Bank Visa Micro Tag in front of a contactless payment terminal without the need to physically swipe or insert the device. Designed to be small and durable, the U.S. Bank Visa Micro Tag makes paying for purchases faster and more convenient.
"Consumers today want access to their financial accounts quickly and securely," said Pat Coll, executive vice president of U.S. Bank Retail Payment Solutions. "New payment devices, such as the Visa Micro Tag, allow consumers to conveniently use electronic forms of payment for small ticket purchases, such as concessions at a sporting event, a soda at a vending machine, or a cup of coffee, while also providing an added layer of security."
U.S. Bank Visa Micro Tags display the Visa and U.S. Bank brands and the contactless indicator. A Visa account number is not required to be embossed or printed on the device. This provides an additional layer of security for consumers who choose to carry their U.S. Bank Visa Micro Tag in visible ways, such as on a keychain.
"One of the advantages of Visa payWave technology is that it offers consumers payment choices that deliver the same security, speed and convenience they have come to expect from Visa," said Tim Attinger, Head of Global Product Innovation at Visa. "We're excited about the opportunity to partner with U.S. Bank to test the Visa Micro Tag and bring consumers payment options that fit their lifestyles."
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