Contactless payments were first proposed in the 1990s, but they were not widely used until decades later. Seoul was the first city to implement it on a large basis, establishing the UPass public transit card.
Mobil developed Speed pass a few years later, which allowed cars to pay for gas via a contactless technology. More countries, notably the United Kingdom, soon adopted contactless public transportation payment options.
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Even before the pandemic, contactless cards were getting adoption for convenience and security. The concerns for safety against viruses became a catalyst that drove adoption much faster than anticipated.
With most of the world having contactless cards, it’s only a matter of time before it becomes completely universal.
121 Financial Credit Union has now integrated contactless debit cards that have EMV chips. We offer a contactless card option that links to your account with the credit union.
You can also get more favorable rates and terms compared to other institutions. Contact us today and get your contactless debit card.