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London arena equipped with contactless payment terminals
16 Jul 2012

The North Greenwich Arena has been equipped with YESpay contactless payment terminals.

Contactless smart cards will be accepted for payments of under £20 at the arena and all people have to do to pay for goods is tap these cards against the YESpay readers.

This should result in shorter queues at the points of sale, as people will not have to get their cash out and wait for change or enter their PIN codes.

Previously known as the O2 Arena and the Millennium Dome, the North Greenwich Arena is located south of the river Thames.

The arena will host artistic gymnastics, trampolining, basketball and wheelchair basketball during the London 2012 Olympic and Paralympic Games.

Recent research from global pricing, strategy and marketing consultants Simon-Kucher & Partners revealed that paying by contactless technology cuts around 15 seconds off a sale.

The firm found that it takes 12 seconds for a contactless transaction to be completed, but 27 seconds to make a chip-and-pin payment.