Taiwanese convenience stores push contactless payment

Taiwanese convenience stores push contactless payment
April 8, 2007

Chinapost.com.tw: President Chain Store Corp., which operates 7-Eleven stores, has cooperated with Chinatrust Commercial Bank to launch a co-branded contactless credit card that debuted April 1 in Taiwan . The contactless card, which has an embedded chip that lets users wave it near a reading panel instead of swiping it, is called "icashwave." The card can function as an electronic wallet for purchases below TWD $500 (U.S. $15) as well as a credit card for larger amounts.