Lloyds TSB is launching contactless payments on its VISA debit cards to current account customers within the M25.
Any new or replacement VISA debit cards issued will allow customers to pay for small purchases up to £15 using contactless technology. The transaction does not require a PIN number, the card is simply held close to the contactless reader at the merchant rather than inserting it into the terminal.
The use of debit cards has recently overtaken cash as the most popular method for high street purchases and more than 50,000 contactless card readers already accept contactless payments. Customers using contactless to make purchases will be protected by the same technology that is behind Chip and PIN .
Philip Robinson, Head of Current Account Products at Lloyds TSB said: "Contactless VISA debit cards provide an efficient alternative for customers making small purchases. With the increasing trend towards debit card usage over cash, contactless debit cards provide customers with convenient payment options."
Contactless debit cards from Lloyds TSB
Financial Services > e-banking > Banking news
Contactless debit cards from Lloyds TSB
Tue, 29 Mar 2011
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