Contactless credit card use to increase
By UK CreditCards.com
Published: 11 December 2009
Barclaycard and Barclays have issued over 5m contactless credit and debit cards since 2007, the providers announced December 10.
In a new report, the card firms suggested that customer usage of the service will increase, with around 20,000 stores currently accepting contactless cards.
Contactless payments work by customers holding their card against a specially-adapted reader. The transactions are instant and do not require the cardholder to enter their PIN. However, contactless payments are limited to transactions of £10 or less and customers are occasionally asked for their PIN or their signature as a security precaution.
Amer Sajed, chief executive of Barclaycard UK, said: "Together with Barclays we continue to roll out contactless technology across our card portfolio as we believe it is the future of payments."
He added: "Consumer feedback highlights the increasing demand for contactless payment."
Outlets accepting the cards include Caffe Nero, Pret A Manger and EAT. Barclaycard, the credit card unit of Barclays bank, retains around 11.9 million customers in the UK.
Recent stories - Innovations, features, new products:
PINs are great for payment authentication, but thieves still find ways to access information. Issuers and payments processors are turning to biometrics to amp up security ...See Biometrics
New companies use your social media activity to create a score to help you get a credit product. But don't expect them to replace traditional scores anytime soon ...See Social media score