RBS and NatWest ride contactless wave
05 February 2013 | 7739 views | 2
RBS and NatWest have announced plans to issue over two milion contactless Visa cards to customers in the UK over the next year.
Mark Austin, vice president - contactless at Visa Europe welcomed the move: "Many major merchants like Marks & Spencer, the Post Office and London's buses are now accepting contactless payment as the service becomes a high street reality. We are expecting to see contactless transaction volumes quadruple in 2013 as momentum in this exciting space continues to grow."
Today there are almost 30 million contactless cards in circulation in the UK and around 50 million in Europe. Contactless payments are accepted at more than 150,000 terminals in the UK and a total of 590,000 across Europe.
HSBC last year announced plans to follow Barclays Bank by embedding contactless technology as a standard feature on all new debit cards in circulation. Other banks are following suit. Lloyds started issuing contactless cards around the London area in May 2010, while Bank of America's card unit MBNA and Virgin Money have also committed to rolling out the technology.