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CVS announced that in 2005 it will begin accepting American Express’s new ExpressPay option at all its 5,300 stores in the US. ExpressPay is Amex’s contactless payment product available in a key fob or embedded in the company's traditional credit card - payment is authorized in seconds, and no signature is required to complete a transaction.

ExpressPay already is available in 485 CVS units, as well as in pilot stores in New York, Singapore and Phoenix.
KC's View:
Ironic that American Express was making this announcement just as Walgreen was saying it would no longer accept the Amex card in its stores.