You know how I feel about contactless cards and contactless payments in general. I love them! They’ve come a long way from their initial un-encrypted RFID iteration here in the states. All payments are encrypted through the chip, and without needing to swipe, there is no physical connection. That means there’s no way for your card to get skimmed like when you swipe it. Even better is if you use an app like Samsung Pay or Google Pay, you have an added level of security which can include a pin or fingerprint.
Late last year, Chase announced they would slowly be replacing their entire lineup of cards with contactless versions of the cards through the end of 2018 and throughout 2019. Wells Fargo followed Chase’s step back in April of 2019. Now it looks like it’s Bank of America’s turn.
Originally, Bank of America decided to run a beta program through a few different states to see how viable a contactless card network would work. If you live in either New York, Boston, or San Francisco, you probably have seen an email from Bank of America stating they will be issuing contactless cards to you soon.
Now, in July, it has been confirmed that Bank of America will try and release contactless cards all throughout the country by 2020. If you card is expiring soon, it’s possible you’ll get a contactless card before then.
It seems pretty silly for Bank of America to say that they wanted to test out the viability of contactless cards in multiple cities, seeing that two other issuers already stated they were going to re-issue their entire lineup. Oh well, at least we are now seeing a confirmation that they will update the cards by 2020.
Overall I’m pretty excited that more people have the opportunity to experience contactless cards and contactless payments. I hope the push from Chase, Wells Fargo, and now Bank of America encourage other banks to adopt this feature and for business owners to update their Point of Service terminals.
Do you have a contactless card? Are you excited to get more? Let us know below!