No Contact Credit Cards on Trial
Dec 15, 2006
Barclays are to carry out trials of a new contactless credit card. To begin with staff at Barclays will use the card within bank buildings. It will then be extended to a few other outlets.
Customers can use the new “wave and pay” card to pay for items costing less than £10. For example newsagents, coffee shops, car parks, vending machines and pubs could be equipped with the new type of card reader. Cards do not have to touch the reader, just waved near it, and there is no pin number or signature required. However, standard chip and pin technology is used and a pin number will be required for transactions over £10.
Barclays have a 3 year deal to combine the contactless credit card with the London Transport Oyster card. However, the bank points out that the functions will be separate. When you pay for a tube ticket the money will come from your oyster account, but when buying a newspaper your credit or debit account will be used.
If the trials are a success then the cards will be available to customers later in 2007. Other banks and credit card providers are also likely to use the new system in the future.
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