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Contactless credit cards set for launch

September 5, 2007 by admin  
Filed under News, News-Credit-Cards

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A contact and cash free payment method is set to sweep the UK as a new kind of credit card is launched by some of the nation’s largest providers.

MasterCard has already launched it PayPass system in London and intends to introduce it to the rest of the country in due course.

The system allows consumers to pay for items costing £10 or under by simply swiping their card over a reader.

It is hoped that removing the need to enter a pin number or have cash available will be more convenient for shoppers and also reduce queues.

After a certain amount of transactions the cardholder will be asked to enter their pin number, as part of a measure intended to limit the amount spent on stolen cards.

The system is currently being used in 19 countries, with terminals installed in more than 50,000 retail outlets.

“Led by Londoners using MasterCard PayPass or Maestro PayPass cards from this month, we believe UK consumers will also welcome the arrival of a new way to pay,” said John Bushby, MasterCard Northern Europe’s general manager.

Tags: nation's largest providers.MasterCard, queues, Northern Europe, nation, london, Maestro, United States

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