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@Martincox - absolutely right! as a static piece of security data, once digitised it's there forever for fraudsters to exfiltrate...

So how many firms does the FCA regulate? And how do they feel about their fees going towards the licensing of unused software?

This should help to drive down the Merchant Service Charge, unless of course the market is already ahead of the regulators.

how does this technology differ from the Netherlands "Ideal" offering? 

Let's also not forget that visitors to London whether for business or pleasure will benefit hugely from not having to queue to buy or top up their oyster cards in order to use the bus service (and eventually the tube, which is the end-game in this).

This also reduces the pressure on TfL to issue yet more cards, a card issuing business they are keen to get out of.

This is a step forward for increasing electronic payments. But please help me understand how chip and "signature" will not attract more card fraud.  Or is the signature somehow captured and compared with an electronic profile?

Is 2.75% really enough to pay for all that additional fraud?

and the due diligence process was what exactly?

well i'm not sure traditional POS is dead just yet.  PCI in unlikely encourage this type of device.  It can skim, it can key-log.

apart from that it looks great...

This looks like a Magstripe reader - not for chip n pin countries, unless they're designed to attract skimmed cards... 

Research of somewhat limited value then. Where were the youngsters in this research? It's the young who will drive the change in our society.