Blast from the Past: How You Paid at Gas Stations

The proximity payments landscape in the US has evolved over a period of time. In 2015, we definitely have better options to pay than we had say, 15 years ago. In 1997, Mobil (which in 1999 merged with Exxon to become ExxonMobil) was one of the first companies to introduce us to the future of payments. The company had launched Speedpass, a keychain RFID device to enable electronic payments which was originally developed by VeriFone. Initially, Speedpass was developed for fast food chains restaurants and supe ...

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