Barclaycard PayTag: contactless payments are go!
Barclaycard have gone and launched a thing that allows you bozos to the chance to make wave-and-pay purchases from their mobile phone. It is called the PayTag and is a quarter of the size of a trad.arr. credit card and can be stuck on anything you like. If you put it on your smartphone, you'll look like you're from the future, and that's all you've ever wanted - to be an early adopter with something to moan about.
Anyway, this new thing is linked to you normal credit card account and allows you to pay for things in any "contactless" store, restaurant or whatever. Barclaycard are obviously hoping that this takes off seeing as the public hasn't been overly enthusiastic about contactless payments thus far.
Next month, a select group of Barclaycard's customers will be the first to receive PayTag, with everyone getting offered this upgrade (or sidegrade) eventually.
David Chan, CEO of Barclaycard Consumer Europe, 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."
So far, only coffee shops, some Boots stores and McDonalds have embrace this new form of paying, but it seems that this is the way things are going with Visa predicting that contactless point-of-sale terminals will rise by 50% to 150,000 in the UK in 2012.