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'Tap and go' credit cards
launched
News.com.au
Tuesday Sept 4, 2007
THE UK moved a step closer to becoming a cashless society today
with the launch of a system that enables people to buy things
by simply touching their credit card against a reader.
The contactless payment system, MasterCard PayPass, can be used
for purchases of less than £10 ($A24).
HSBC and Royal Bank of Scotland have already signed up to use
the "Tap & Go" technology, along with a number of
major retailers including McDonald's, the British Press Association
reported.
The system was launched in London's City and Canary Wharf today
and will be rolled out across the capital this month and the rest
of the UK next year.
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It is estimated that five million contactless payment cards will
be issued by banks to replace existing credit and debit cards
by the end of next year, and these will be accepted by 100,000
retailers.
John Bushby, general manager of MasterCard Northern Europe, said:
"Consumers and retailers in other parts of Europe, the US
and Asia are already embracing the ease and safety of contactless
payments in retail environments where speed is essential."
Barclaycard One Pulse, which combines a number of card functions
in one, said more than 3800 people had registered for one of the
cards ahead of their launch later this year.
More than 1000 London retailers have also said they will install
the technology to accept payment by the cards.
The system is similar to one to be trialled in Australia next
year in which customers can pay with the wave of a mobile phone
with a built-in credit card.
About 250 Telstra and NAB customers will be supplied with a mobile
phone embedded with contactless technology, with a Visa application
loaded on to the SIM card.
They will be able to make a payment by simply waving their mobile
over a merchant's contactless reader.
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INFOWARS:
BECAUSE THERE'S A WAR ON FOR YOUR MIND
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