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...months of testing in nine stores in the Chicago area, McDonald's in mid-October began allowing holders of ExxonMobil Speedpass wands to use them to buy meals at more than 400 area McDonald's outlets. "Customers like it because it's quick--no slip to sign, no code to punch in. It's swipe and go," says Dave Rosales, McDonald's director of strategy and business development. In Orange County, Calif., and on New York's Long Island, commuters can even use their electronic toll passes to pay for purchases at some McDonald's drive-through windows...

Author: /time Magazine | Title: Pay Fast--With No Cash | 11/5/2001 | See Source »

...commerce chips, when scanned by a reader, transmit a unique code, your ID, which zips down the Internet to an account sitting in a computer at a transaction-processing company. No credit-card information is transmitted between the reader and the tag, so that information cannot be hijacked. 2Scoot bills your credit card of choice, while FreedomPay uses a debit system that deducts money from an "electronic purse" set up in advance using either cash or a credit card...

Author: /time Magazine | Title: Pay Fast--With No Cash | 11/5/2001 | See Source »

...lose your wand or RFID cell phone, you just report it stolen or missing, and FreedomPay or 2Scoot will deactivate it and issue a new one with a new code. And those who use the electronic-purse system usually keep only two-figure sums of money in them. "It's not like you're gonna buy a 1948 roadster with a $99 account," says Jim Forbes, an analyst for consulting firm IDG, based in San Mateo, Calif...

Author: /time Magazine | Title: Pay Fast--With No Cash | 11/5/2001 | See Source »

Even before Unnikrishnan purchased his cell phone, he used a calling card instead of the PAC code...

Author: By Claire A. Pasternack, CONTRIBUTING WRITER | Title: Cell Popularity Concerns Phone Office | 11/1/2001 | See Source »

...wrote about one-third of the code and took the rest from publically available open-source software. Dougherty used money from his summer job to pay for the project’s server, housed in Maxwell Dworkin...

Author: By Elisabeth S. Theodore, CONTRIBUTING WRITER | Title: Online Tutor Program Kicks Off | 10/30/2001 | See Source »

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