Cash for cappuccinos? That's so out
Published: 27 November 2008 15:39 GMT
Credit card issuer Barclaycard and takeaway food chain Pret A Manger have announced the rollout of contactless payment systems at 178 stores.
silicon.com Retail & Leisure
Get the latest retail and leisure news straight to your inbox. Sign up for the R&L newsletter today!
Pret has already deployed 'wave and pay' facilities at seven of the sites and expects the rest of the deployment - which will include stores including Birmingham, Brighton, London, Manchester, Oxford and York - to be complete by April 2009.
According to Barclaycard, contactless payments are available in more than 6,000 retail outlets, including Coffee Republic, EAT and Yo! Sushi. More than one million contactless cards have been issued to Barclaycard customers.
Contactless payments are being encouraged by card issuers for payments of less than £10 for purchases people would typically use cash for. Handling cash is a bane for banks and merchants because of the administration overhead and handling costs involved.
Barclaycard head of contactless and card development, Richard Mould, said: "It's another step in the journey started with the launch of Barclaycard OnePulse. Pret A Manger is a great merchant that is right smack in the middle of the grab-and-go market, where speed of service is of most importance. There is a customer need here, but it also helps merchants improve the bottom line by shortening queues and work their store assets by increasing sales volumes."
The technology for the service is provided by retail payments systems specialist Commedia.
Photos: Visa predicts the future of paying
Visa demos the credit card with its very own PIN pad
Mobile wallets to bulk out m-payments' future
Scousers to go contactless on the buses
Dublin gets its own Oyster card-a-like
Barclays gives away 50,000 contactless coffees
and any exposure to the various aspects of payments, accounting, BACS, fund management, credit card processing, cash management etc highly desirable? ...
Due to this success they are now looking to hire a new Enterprise Sales Executive to focus on the Payment Card Industry. An understanding of the ...
Employing over 3500 staff globally this is a unique opportunity to get your foot in the door of a leading organisation that creates highly successful ...
Agenda Setters 2009
Welcome to the ninth annual Agenda Setters poll – silicon.com's list of the top 50 most influential individuals in the technology and IT industries, from techies and CIOs to entrepreneurs and business leaders. Find out more in our latest special report.
Stories from the web...
Copyright © 2008 CBS Interactive Limited. All rights reserved. Top of page
Nick Beecham and Belinda Doshi
No more tax breaks for offshoring?
Financial services firms must prepare now for 2010 legal changes
Tim Ferguson
On a new Voyager, tackling fraud and the intellectual challenge
Interview: Nationwide IT director, Peter Stafford
Nick Heath
David Lister on smart grids and why he left RBS
Interview: National Grid CIO
Andy Jones
Why banks will push ahead with offshoring
Comment: Even if they don't want to
Catherine Stagg-Macey
Legacy IT holding back insurers
Comment: Economic crisis means finance giants must step lively
Julian Goldsmith
The City fund manager with no IT department
Q&A: How asset management is embracing the cloud...