New Touch-n-Pay Cards Given The Green Light
Wednesday 9th May 2007 Credit card companies MasterCard and Visa have been given the go ahead to launch a new type of pay system which will allow customers to settle bills of less than £10 with a touch of their credit or debit card.
Set to popular with shoppers using convenience outlets such as fast food chains, newsagents, vending machines and taxi’s – customers will not need to sign for transactions or enter a pin number they will simply swipe and go.
Companies set to introduce this new system include HSBC, Lloyds TSB, The Royal Bank of Scotland and Barclaycard. It is hoped that a pilot system will be in place in 7 districts within Greater London by September of this year.
Apacs have stated that they hope to issue 5 million of these new cards by the end of 2008 and they will be accepted in over 100,000 different outlets.
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