I’ve recieved a number of new credit cards in the last few months. Some I applied for. Others were replacement cards. However almost all of them come with RFID technology.

While each of the major credit card companies have called the tap initiated payment something different, the implementation and technology behind each is nearly identical.  For those who haven’t gotten around to tapping their purchases, all these programs allow you to make transactions for under $25 by a mere motion of the card near a sensor at the cash register.  No signature is required. The card never has to leave your control. While initially it might seem this is less secure transaction, in reality it’s probably more secure.  Even when cashiers check signatures, cashiers are hardly equipped to discern a credible signature from a fake.

I’ve only become a recent user of this technology because my new goal of spending $15,000 on my credit card in the next 6 months. In the past I tended to pay in cash small transactions that this technology is geared towards. Transactions such as: fast food, coffee, or a bag of chips at the 7-11.  However, now that I’m using my credit card for every transaction I can make on credit card, I’ve tapped my card over 4 times in the last week.  I think it’s great. It’s easy and It’s convenient. I don’t even have to remove my car from my wallet.  The fact that I don’t need to take my card out means one less chance for me to lose my card as I have a tendency to lose things.

Of course some credit card opponents feel that this technology gives consumers just another length of rope to hang themselves. I don’t disagree.  People who can’t control their credit card spending behavior need to avoid tapping, but they should also avoid using credit cards in general.  Tapping is even more effortless than signing. When I tap, I don’t feel like I’ve engaged in any transaction.  For someone who is prone to spending because credit card spending doesn’t feel like using “real money”, tapping a transaction feels even less real. However, for those who are disciplined credit card users, this RFID technology is convenient and saves time. While the time saving for any individual on any given transaction is only a 15-40 seconds, the potential efficiency gains to be made in lines can be quite substantial.  I buy that Visa commercial showing how paying in cash (or signing a receipt) can slow down a smoothly operating line.