Wave and Pay
I've read a few reports about Barclaycard jumping in to bed with the company that issues the Oyster Card, Transys. The Oyster Card is used in London I gather as a prepaid travel pass card that is contactless - the card isn't swiped, it's a contactless smartcard that is waved over a sensor and your card is automatically debited for the price of your journey on the train. More than six million Oyster cards are used by Londoners.
Barclaycard are joing forces with Oyster to create a wave and pay card that allows consumers to pay for small value transactions (under £10). For more expensive purchases a PIN will still need to be entered.
Currently, more than 75% of cash transactions are for less than £10, compared with about 20% of credit card transactions.
If the Barclaycard trial goes well in London the new wave and pay card will be rolled out around the UK.
Barclaycard are joing forces with Oyster to create a wave and pay card that allows consumers to pay for small value transactions (under £10). For more expensive purchases a PIN will still need to be entered.
Currently, more than 75% of cash transactions are for less than £10, compared with about 20% of credit card transactions.
If the Barclaycard trial goes well in London the new wave and pay card will be rolled out around the UK.
Labels: barclaycard, credit cards, oyster card, wave and pay
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