Contactless limit increases
02 Mar 2010 08:30 GMT
The maximum limit for contactless card transactions in the UK has increased from £10 to £15, making paying for small transactions by debit or credit card even easier for millions of customers.
Barclays has led the industry with the roll-out of contactless payment technology since Barclaycard introduced the first card in 2007. Barclays VISA debit cards are now issued or reissued with contactless technology built in as standard. More than 2 million contactless-enabled Barclays VISA debit cards and 4 million contactless Barclaycard credit cards have been issued.
Brian Cunnington, Head of Debit Cards for Barclays, said: “Contactless technology is undoubtedly the future of payments and we are seeing it grow hugely in popularity. More than two years after the first customers were issued with contactless cards it is the right time for the industry limit to increase to £15, in line with demand from consumers and retailers alike. The new higher limit gives customers the flexibility of paying for even more transactions quickly, securely and conveniently via a contactless card payment and will lead to more retailers implementing the technology.”
Contactless allows customers to pay for transactions of £15 or less by holding their card over a special reader, without the need to enter a PIN or insert the card into a terminal. The transaction is debited directly from the customer’s current account or applied to their credit card account in the same way that a standard card transaction is. The cards still operate as normal debit and credit cards with chip and PIN security and periodically prompt for the PIN to be entered to verify the customer’s identity.
Barclays has produced a video, available to view on www.barclays.co.uk/video, explaining what contactless is, why Barclays is leading the industry in its roll-out of contactless cards and how and where contactless can be used.
More information about Barclays contactless payments can be found at www.barclays.co.uk/contactless and www.barclaycard.co.uk
Notes to Editors:
Currently 20,000 payment terminals at retailers in the UK are capable of taking contactless payments including in many outlets of Pret A Manger, Coffee Republic, Caffe Nero, EAT, Books etc, Krispy Kreme and thousands of independent retailers, with more installing the technology every week. To search for outlets which accept contactless payments visit the Visa website at www.visapaywave.co.uk
Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 140,000 people. Barclays moves, lends, invests and protects money for 48 million customers and clients worldwide.
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