Contactless payment 'the next big thing'
04 March 2010 16:24:36
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| Contactless payment to become more popular this year. |
Jemma Smith, head of public relations at UK Payments, said that contactless payment, in which a customer pays for items that cost £15 or under simply by holding their bank account card close to a reader, would provide added convenience.
"Three-quarters of all cash payments are made for purchases under a fiver," Ms Smith revealed.
"Contactless means that there is the platform for the customer not to rely on cash. It is much faster too."
Ms Smith claimed that the system is a "super way to buy a cup of coffee", as neither the retailer nor the customer has to handle any cash.
On the issue of security, she pointed out that contactless bank account cards have the same chip and pin security as other cards and help to restrict fraud loss.
The expert admitted that no-one knows when contactless payment will become universal, but she insisted that 2010 will see a "big growth" in the technology's use.
Her comments follow the news that the maximum limit for contactless card transactions has increased from £10 to £15 so that the technology can be used for even more purchases.
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