London to be first to try tap and go cards

London is to be the first city to try out the new tap and go payment cards that are being launched by MasterCard and Visa.

These will be available through a number of the UK's leading banks including Barclays, Halifax, Bank of Scotland, Lloyds TSB, and the Royal Bank of Scotland.

The tap and go card is due to be launched in England's capital city in September this year, and officials from MasterCard and Visa believe that the card will prove very popular amongst those that want to enjoy speed and convenient when paying for smaller purchases, and those that want to eliminate the need to carry money around.

A similar scheme is already successfully operated in the United States. It is thought that paying for smaller goods such as a sandwich, a drink at the pub, or even for a taxi will be made easier and more convenient through the use of this technology, which will not require any signature or pin number. Users will simply need to scan their card using a special scanner to read the information, and payment will then go through as it would with a debit card.

Some campaigners are concerned that these cards could prove problematic in that they could result in consumers making a variety of small payments and spending more than they realize on the card.

However, one MasterCard spokesperson stated: 'Our experience has shown us that consumers love the convenience, simplicity and security of tap-and-go when paying for everyday things such as newspapers, sandwiches and drinks.'

Retailers and companies will need to update their technology in order to have the scanners installed for acceptance of the tap and go card. The scheme will be made available throughout the rest of the UK next year after its initial launch in London.

Tom Smith
13th May 2007