Contactless Cards

Contactless Cards

People will certainly save time and no longer have to fumble around for the right change

Brits are fearful that the introduction of ‘contactless’ payment will mean they are at greater risk from criminals and fraudsters. 77% of people polled in a survey released today think it will make it easier for criminals to spend money on lost and stolen cards.

The research by life assistance firm CPP reveals that nearly half of those surveyed believe that a contactless method of purchase, where you simply have to tap your credit or debit card to a reader for the payment to be taken, will lead to increased levels of crime. 47% think it will make monitoring spending more difficult, worsening the UK’s already critical debt problems.

Nine out of 10 Brits don’t feel that there has been enough communication from banks on this new form of payment. There does seem to be an appreciation of the benefits the new technology could bring particularly amongst the younger generation however. The reduction in the inevitable check-out queue was seen as the ultimate benefit with not having to carry cash and general ease of use proving popular also.

APACS, the UK’s payments association, has forecast that there will be five million contactless cards in circulation and 100,000 contactless merchant terminals in place by the end of 2008. Anyone whose payment card is due for renewal in the near future is likely to receive one of the new cards. With 88% of the population still unaware of the technology according to this latest survey, the time is now for education..

Geoff Barker, Head of Contactless Payment at CPP, said: “There are undoubtedly numerous consumer benefits associated with contactless payments. People will certainly save time and no longer have to fumble around for the right change, but this research shows we need to dispel some popular myths around security and fraud. For example, casually brushing past a reader in a store does not mean your contactless card will automatically be debited with a purchase you didn’t make, nor will transactions be duplicated by accidentally touching the reader twice.”