AmEx Offering Swipeless Credit Cards

American Express said on Monday it will soon begin to issue credit cards that no longer have to be swiped through a machine in order to make payments. Specially designed American Express cards will be offered to customers of its Blue card, and will work similar to ExxonMobil's SpeedPass service. Speedpass allows customers to wave a wand in front of a sensor in order to pay, and requires no signature.

CVS, Ritz Camera and East coast gas station chain Sheetz will all accept the new method of payment, which the company says is some 63 percent faster than paying by cash. 7-Eleven has also announced it will test out the service as well. For places that do not support the new technology, the card can act in the traditional manner and be swiped through a credit card machine.