Barclaycard and mobile phone operator Orange UK have partnered to develop a mobile payment system that enables customers to make payments with their mobile phones. They plan to launch new products and services to enable their combined base of more than 28 million customers to use their mobiles to make payments and better manage their finances with the aim of creating a mobile ‘contactless’ technology by 2012.
This is about supporting the high street – making connections between cardholders and retailers. Customers will get better value on their purchases and retailers will get increased footfall in their stores.
Customers can use their mobiles to make Oyster card style payments of up to £10 at retailers that have contactless payment readers installed - currently almost 10,000 outlets in the UK.
"There has been a lot of talk about mobile payments and now it's going to become a reality for our customers because of Barclaycard's commitment to contactless technology and the coming together of two dynamic and imaginative organisations," said Barclaycard Chief Executive Antony Jenkins.
Barclaycard has previously worked with mobile operator O2 on a contactless payments and Oyster mobile trial on the London Underground. Earlier this year Barclays announced it would be working towards moving its entire fleet of debit cards onto a contactless footing, with all replacement cards issued from March this year being NFC-enabled. There is also a TV ad currently being broadcast to support this.