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New Barclaycard is touch-and-pay New Barclaycard is touch-and-pay
(about 1 hour later)
Barclays has said that its new touch-and-pay credit card will be accepted by more than 1,000 London shops when it launches next month. Barclays has signed up more than 1,000 London shops to accept a touch-and-pay credit card, the bank says.
Chains such as Coffee Republic and Eat will be some of the first to accept the contactless credit card. Chains such as Coffee Republic and Eat will be some of the first to accept the contactless Barclaycard credit card, which will be launched in September.
The idea is inspired by the Oyster payment method adopted by Transport for London, in which commuters press a small card against a special pad.The idea is inspired by the Oyster payment method adopted by Transport for London, in which commuters press a small card against a special pad.
The card combines chip-and-pin technology with the Oyster travelcard.The card combines chip-and-pin technology with the Oyster travelcard.
The new Barclaycard credit card, called Barclaycard OnePulse, can be used to pay for items costing less than £10 without using a four-digit Pin number or signing for purchases. The card, called Barclaycard OnePulse, can be used to pay for items costing less than £10 without using a four-digit Pin number or signing for purchases.
It will help us to eliminate queues in the busy lunchtime rush Guy Harvey, financial director at EatIt will help us to eliminate queues in the busy lunchtime rush Guy Harvey, financial director at Eat
Any transaction over £10, however, will still need a Pin to verify it.Any transaction over £10, however, will still need a Pin to verify it.
Wave and payWave and pay
"We are excited about installing cashless readers in 25 of our London stores," said Guy Harvey, financial director at UK High Street sandwich chain Eat."We are excited about installing cashless readers in 25 of our London stores," said Guy Harvey, financial director at UK High Street sandwich chain Eat.
"It will help us to eliminate some of the frustrations for our customers, such as queues in the busy lunchtime rush.""It will help us to eliminate some of the frustrations for our customers, such as queues in the busy lunchtime rush."
In addition to making small transactions, the credit card is also designed to act as an Oyster card for travel on London's Tubes and buses.In addition to making small transactions, the credit card is also designed to act as an Oyster card for travel on London's Tubes and buses.
The bank has struck a deal to try out the new cards and contactless readers with TranSys, the company that runs the Oyster card system with Transport for London.The bank has struck a deal to try out the new cards and contactless readers with TranSys, the company that runs the Oyster card system with Transport for London.
The deal gives it the exclusive right, for three years, to put Oyster cards on its Barclaycard credit cards and Barclays Connect debit cards.The deal gives it the exclusive right, for three years, to put Oyster cards on its Barclaycard credit cards and Barclays Connect debit cards.
The company has stressed, however, that the two types of transaction will remain separate.The company has stressed, however, that the two types of transaction will remain separate.
Security issuesSecurity issues
Barclays is confident that the combined credit and Oyster card will be popular, particularly in London.Barclays is confident that the combined credit and Oyster card will be popular, particularly in London.
It says the new cards cannot be cloned or counterfeited and if a card is lost or stolen, the cardholder can cancel the card and it will no longer work for contactless transactions.It says the new cards cannot be cloned or counterfeited and if a card is lost or stolen, the cardholder can cancel the card and it will no longer work for contactless transactions.
But analysts have raised questions about whether security could be compromised and if will lead to a rise in card fraud.But analysts have raised questions about whether security could be compromised and if will lead to a rise in card fraud.
Meanwhile, Visa and Mastercard will also be introducing the touch-and-pay technology in certain London locations in September for their credit cards.Meanwhile, Visa and Mastercard will also be introducing the touch-and-pay technology in certain London locations in September for their credit cards.