PURCHASE, NY. — The decision of the $220 million Harvard University Employees Credit Union to begin issuing credit cards enabled with MasterCard's contactless technology is only the latest in what the card brand says is building momentum for the innovation.
The card brand said that as of the second quarter of 2007, 16 million cards have been issued with the PayPass contactless technology and that machines capable of reading the cards have been put into place by 55,000 merchant locations worldwide. The brand also reported that there are trials of the new technology in place in 19 countries as well.
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