Formula 1 stars test drive new fast payment system from RBS

Warwick Ashford

Royal Bank of Scotland has launched "contactless" debit and credit cards for fast payments of up to £10. The bank teamed up with Formula 1 Williams drivers to demonstrate the speed of the system at a McDonald's drive-through in London last week.

The system uses radio-wave card technology to send data from the customer's card to the retailer's card reader, halving the time taken for cash transactions. McDonald's and other major retailers plan to start using the technology from next month.

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