Fancy a quicky?
Posted: Thu Nov 23, 2006 8:44 pm
Real money will be phased out before we know it! How would we buy our additional under the counter something for the weeked sir goodies. We'd have to start trading sheep or summit again.Swipe payment for quickie purchases
A new "wave and pay" card system is in the pipeline so we can buy small things like a cup of coffee on plastic within seconds without counting out small change.
The card will be left inside a wallet or purse and can be swiped against a reader when the transaction is made.
Newsagents, off-licences and bars are among some of the outlets that would be interested in the new payment system, putting an end to long queues just to buy a newspaper.
A chip and pin transaction will have to be made after every £10 to safeguard us against theft.
Visa UK says the system will be up and running by next year.
Sandra Alzetta, Visa Europe senior vice president of consumer market development, said: "With over 75 per cent of all cash payments being less than £10, the introduction of contactless payments will play a major role in encouraging the use of cards over cash for low value transactions."
She added: "In addition, the decision to go live in less than a year supports our vision for a cashless Olympic Games in London in 2012."
