23 July 2016
Find out more

Co-op to introduce contactless payments

14 July 2010  |  9518 views  |  0 Barclaycard Oyster 1

The Co-operative Food will become the UK's first major grocery retailer to introduce contactless payment in its stores nationwide after joining forces with Barclaycard.

The roll-out will begin with a pilot in 100 Co-operative food stores next year after an agreement was signed with Barclaycard in partnership with Visa. If the pilot is successful, The Co-operative says it will roll out the terminals to the majority of its food stores in time for the 2012 Olympics, which is being billed as a contactless event, where visitors will be able to use the new cards to pay for transport, tickets and other low value purchases.

Roll-out of contactless payment in the UK began in 2007 and there are now over nine million contactless enabled cards in circulation, with Visa estimating that 12 million will be in issue by the end of the year.

The Co-op expects contactless to increase throughput as research has shown that a large number of customers will walk out of a shop if they see an excessive queue length.

Mark Hale, director of Food IS, The Co-operative, says: "In essence, this innovative technology will mean increased customer choice and faster transaction speed, which will vastly improve the customer experience."
KeywordsEFTPOS

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Visa contactless cards in issue in UK to reach 12 million by year end

Visa contactless cards in issue in UK to reach 12 million by year end

07 July 2010  |  9527 views  |  0 comments
Barclaycard updates iPhone game

Barclaycard updates iPhone game

02 July 2010  |  10052 views  |  0 comments
Barclays banks on £1bn investment to boost global retail business

Barclays banks on £1bn investment to boost global retail business

01 July 2010  |  11473 views  |  0 comments
Barclays business customers to get contactless as standard

Barclays business customers to get contactless as standard

09 March 2010  |  7832 views  |  1 comments
UK contactless limit upped to £15

UK contactless limit upped to £15

02 March 2010  |  8768 views  |  3 comments
Orange and Barclaycard launch contactless credit card

Orange and Barclaycard launch contactless credit card

07 January 2010  |  19386 views  |  0 comments
Contactless acceptance market set to boom

Contactless acceptance market set to boom

11 November 2009  |  11411 views  |  1 comments
Westminster to trial contactless parking meters

Westminster to trial contactless parking meters

30 October 2009  |  5369 views  |  1 comments
European Vending Association makes contactless payments push

European Vending Association makes contactless payments push

27 October 2009  |  6710 views  |  0 comments
RBS WorldPay rolls out contactless payments on Liverpool bus network

RBS WorldPay rolls out contactless payments on Liverpool bus network

13 October 2009  |  9889 views  |  1 comments
UK retailer Boots to trial contactless payments

UK retailer Boots to trial contactless payments

12 May 2009  |  11377 views  |  1 comments
Barclays to move to contactless debit as standard

Barclays to move to contactless debit as standard

06 January 2009  |  11966 views  |  2 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comVisit VocaLink.comFind out more

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
7966 views 14 comments | 32 tweets | 36 linkedin
hands typing furiouslyWhat Every FinTech CEO Should Know About R...
7808 views 0 | 14 tweets | 8 linkedin
hands typing furiouslyBanking on IoT: Security in the Internet o...
7662 views 3 | 19 tweets | 6 linkedin
Santander doubles down on fintech fundSantander doubles down on fintech fund
7555 views comments | 22 tweets | 28 linkedin
Brexit-scarred London fintech startups enquire about moving to BerlinBrexit-scarred London fintech startups enq...
7457 views comments | 16 tweets | 16 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job