Related Credit Card Article

"Contactless payments welcomed by credit card companies"

By admin | February 6th, 2010 | Credit Cards

Contactless payments may have seemed like a thing of the future just a few years ago, but today this form of payment is becoming increasingly popular in the UK to pay for lower priced items.

For consumers it means that there is increased convenient and no need to worry about PIN numbers and the like. For retailers it means that transactions can be made more quickly, avoiding lengthy queues that can form when customers cannot remember their PIN or have to sign for purchases.

According to one recent report many credit card companies are welcoming this contactless technology, which involves simply tapping the card on a special reader for the transaction to go through. Mastercard and Visa are already leading the way in contactless technology with their PayPass and PayWave cards providing customers with the ease and convenience of contactless technology.

One of the reasons why credit card firms are pleased with this technology is that it is designed for those that are making low value purchases for ten pounds or less, and in the past most people were reluctant to put the cost of smaller purchases on their credit cards. However, with the ease and convenience of this technology more and more people will become willing to pay for a lower value purchase with their plastic.

Steve Perry from Visa Europe said that the rising popularity of contactless technology could mean that we move forward into a cashless society where there is no longer any need for people to carry notes and coins around with them.

He said: “Contactless is as revolutionary as the shift to internet payments was five years ago. It will mean having no notes and coins – it will certainly mean having no coins. It will move us almost to a cashless society.”

Tags: internet payments, Credit Cards, contactless credit cards, contactless technology, Contactless smart card, Contactless payment

Related Articles:

• Contactless cards enjoy impressive growth

  According to recent reports contactless payment cards in the UK are enjoying impressive growth having grown increasingly popular amongst consumers looking for a fast, convenient, and secure way to make payments for smaller purchases without having to rummage about for cash when they are in a hurry. It has been announced recently that the number of...

• Retail giant to trial tap and go technology

  Over recent years more and more consumers that don’t want the hassle and danger of carrying money around and don’t want the inconvenience of writing cheques have turned to plastic cards to make transactions when making purchases. This includes debit cards, credit cards, and store cards, all of which have provided consumers with ease, speed,...

• Orange to launch contactless credit card

  Mobile phone giant Orange is set to launch its own contactless credit card in partnership with banking giant Barclaycard. The card will be co-branded and operated by Barclaycard, and will offer customers a range of flexible options when it comes to their credit card use. With the new credit card from Orange customers will be...

• Future could see end of credit cards

  According to a recent report technological advancements in making payments in the future could see the use of credit cards wane or even end in as little as five years. Some officials have predicted that many people will start paying for purchases in other way such as by phone, fingerprint, or key fob, which will...

• Greater numbers of users get contactless credit cards

  According to a recent report a greater number of users are getting access to contactless credit cards, which are plastic cards that can be used to make payment for purchases to the value of £10 or under without any signature required and without a PIN having to be put in. An announcement was recently made...

Other Recent Articles

Use of credit cards declines whilst payday loans increase

It seems that many consumers may have switching from spending on credit card that can sometimes come with high rates...

By Reno | February 10, 2012 | Read More

Useful Tips for Credit Card Holders

Modern technology offers comfort and convenience that is often helpful for people in a fast paced everyday living. With just...

By admin | February 7, 2012 | Read More

Credit card decision by Lloyds could have serious effect on charities

For many years now, a range of leading and well known charities have been able to boost the levels of...

By Reno | January 28, 2012 | Read More

Many have to rely on credit cards to make ends meet

There was a time when people had credit cards to enable them to pay for occasional larger, more expensive items...

By Reno | January 26, 2012 | Read More

Brits increasingly dissatisfied with credit card providers

According to recent reports, Brits are becoming increasingly dissatisfied with their credit card providers, particularly in the case of the...

By Reno | January 20, 2012 | Read More