Wireless operator Orange and Barclaycard have launched a co-branded contactless credit card that will let customers manage their budgets and keep tabs on spending via SMS notifications.
The MasterCard card's introduction is part of a strategic alliance forged last March between the bank and telco aimed at pushing through the development and adoption of contactless mobile payments services.
The card enables customers to purchase items of £10 and under at the point of sale by waving it over specially equipped terminals.
Automated SMS alerts will let cardholders keep a tab on spending, with customers also able to set alerts and blocks on card spend online, abroad or for high value transactions. In addition weekly or monthly budgets can be set with alerts informing users when they are reached.
Marc Overton, VP, wholesale, business development and partnerships, Orange UK, says: "A key part of our UK strategy is to grow and evolve our business, whilst at the same time provide extra value for our customers. In partnering with Barclaycard, we believe we're doing just that, and today's announcement is the next exciting step in the journey to the future world of consumers paying for everyday goods on their mobile phone."
The scramble from telcos to take advantage of the burgeoning mobile payments market has also seen O2 set up a personal finance unit and launch two pre-paid cards in partnership with high street bank NatWest.