Visa has announced a plan to introduce contactless
payment cards in the autumn, when itlaunches its payWaves
technologyin London.
The payWave cards can be waved in front of terminals with no
need for them to swiped or inserted into readers.
Visa will introduce contactless payWave facilities at retailers
across London transport hubs including Canary Wharf, Liverpool
Street, Moorgate, Fenchurch Street, London Bridge, Charing Cross
and Waterloo Stations. It expects around 200,000 consumers and
about 2,000 retailers will participate.
The announcement is in partnership with its member banks
including HSBC, HBOS, Lloyds TSB and Barclays.
It follows
Barclaycard’s announcement this week that it
will roll out similar cards combined with Transport for
London’s Oyster travelcard in the summer.
Mariano Dima, executive vice-president of marketing at Visa
Europe, said payWave allows payments to be made
instantaneously.
“Using wireless technology, payment details are securely
exchanged between a chip card and a specially adapted point of sale
terminal," he explained.
"For high volume retail environments, such as coffee shops,
express grocery stores and newsagents, where transaction values are
low and speed of service is essential, Visa payWave offers a
secure, convenient and quick alternative to cash. Visa payWave is
set to revolutionise how we pay in Europe and London is going to be
at the forefront."
Barclaycard and Oyster to roll out 'wave and
pay' cards >>
Retailers face card data clampdown
>>
Barclaycard demos 'wave and pay' option for
taxis >>
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