U.S. Bank (Minneapolis) has introduced a multipurpose Visa card that has the capabilities of a mag stripe card, contactless payment card and secure ID card all in one device.
U.S. Bank is piloting the program with employees in Minneapolis. Those involved in the pilot can make purchases and enter their secure work location using the bank's AccelaPay Visa Card, a prepaid payroll account. The cards contain the MicroPass 4006 platform consisting of two applications: the Visa payWave application, which allows for contactless payment at the point of sale, and the HID iCLASS application, which allows for contactless access to secure facilities at U.S. Bank.
U.S. Bank worked closely with several organizations to create this multifunctional card: CPI Card Group managed the production of the cards for the pilot; HID Global provided the access control readers for the pilot, as well as the iCLASS technology used within the card; INSIDE Contactless provided their MicroPass 4006 platform which powers the Visa payWave application and the HID iCLASS application of the card; and Visa Inc., which is the payment network for the card.