Useful links:
eMoney News | eMoney Press Releases | sQuid schemes - eMoney

eMoney News

High street bank to roll out contactless payment ahead of Olympics
11 May 2012

A leading high street bank is on course to roll out a new contactless payment scheme in anticipation of this year’s 2012 Olympic Games.

HSBC announced yesterday (May 9th) that it would be replacing soon-to-expire debit cards with a fresh contactless card that would enable them to make purchases to the value of £15, or £20 from June 1st.

Although the cards are being launched to coincide with the London Games, the technology will be enabled across the UK and overseas.

Head of cards for HSBC Barnaby Jenkins said: “Contactless technology is an efficient and secure way for customers to pay for goods.

“By starting to issue cards now customers will be able to take advantage of the contactless payment pads that are being installed in Olympic venues.”

The new payment card, which is being rolled out this month, offers the same protection against fraud as the typical chip and pin system.

Meanwhile, Barclays recently launched its Pingit app to enable users to make contactless transactions of up to £300 per day.