4/19/2012 3:29:21 PM
Barclaycard launches new mobile payments system
Barclaycard has launched a new mobile payments system, allowing customers to make purchases by sticking a tag on the back of any handset.
PayTag is free to Barclaycard Visa cardholders and is an extension of their credit card account. The tag is a third of the size of a credit card and can be used to make payments of £15 and under by being held over a contactless terminal.
Barclaycard Europe CEO David Chan said: 'More than half of us say that the item we’re most lost without is our mobile phone, so we’re giving people the option of using them to make easy, convenient, everyday payments without the need to upgrade their current handset.'
In separate research, Visa said the number of contactless point of sale terminals will increase by 50% to 150,000 this year. Among the retailers that will feature the service by the end of the year are Waitrose, McDonalds, Boots, WH Smith and Tesco.
Editor: Graeme Neill