Of Special Interest
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
20th April 2012
PayTag turns any mobile into contactless pay device
Barclaycard launched PayTag this week - a sticker which can be attached to any mobile phone converting it to a device which can be used to make payment at any Visa contactless pay point, debiting the customer's Visa card. PayTag is free of charge to all Barclaycard Visa customers.
The Barclaycard Visa cardholder can of course use their Barclaycard plastic card contactlessly already. However getting your card out of your wallet or purse and placing it close to the payment device has failed to take off as an attractive payment method whilst waving your mobile at the payment point is hoped to be seen as more acceptable - 'even cool' by some mobile phone users. Many cardholders do not realise the places where they can make a contactless payment further impeding the take-up of contactless payment. The current advertising encouraging contactless payment fails to highlight what a customer should look for at point of sale. This should perhaps be addressed as a matter of urgency and may be more important than adding to the number of payment devices a cardholder has in encouraging uptake.
Barclaycard announced that the contactless floor limit, will increase from £15 to £20 in June of this year. This is the payment limit under which no additional security information, such as a pin number, is normally required. This increase will help bring the UK into line with floor limits for contactless payment currently in use in other European countries and the United States.