Yum, Visa Testing No-Swipe Payments

Fast-food is about to get even faster.

Yum Brands Inc. (YUM), parent of the KFC, Taco Bell and Pizza Hut restaurant chains, is partnering with Visa to test technology in some of its Atlanta restaurants that will allow customers to wave their credit cards in front of a sensor to pay for their meals.

The "contactless" payments do away with card swiping and are up to 25 percent faster than cash transactions, the companies said in a joint statement. They also allow consumers to keep their credit cards in their hands during the purchase.

The news comes after American Express Co. (AXP) and J.P. Morgan Chase & Co. (JPM) recently announced plans to issue credit cards compatible with the contactless technology.

The function is already common at many Exxon Mobil Corp. (XOM) gas stations, and the cards are also being tested by companies including convenience store chain 7-Eleven Inc. and East Coast drugstore chain CVS Corp.