An American company is cutting the waiting time for sports fans to purchase food and beverages at events.

Passage Inc. developed a wristband with RFID technology and an embedded stored-value chip to use in a cash-free express lane. Simply waving one's arm in front of a reader completes the transaction.

The wristbands are usually free - often with sponsored logos - and for a $1.50 fee, fans can "load" them with funds using an on-site touch screen and their credit or debit cards. Strolling vendors will soon be equipped to allow spectators to use them from their seats. Several professional sports stadiums already use the system to boost sales, since line-ups keep people away from concession stands.