Sunday, March 14, 2010
Category:
Personal Finance Tips
Since the introduction of contactless payment technology in 2007, all Barclaycard VISA debit cards are now reportedly issued or re-issued with this technology incorporated as standard.
In fact, it has been revealed that more than two million contactless-enabled Barclays VISA debit cards and four million credit cards have been issued. Furthermore, according to Barclays, the existing £10 limit for contactless credit or debt card transactions in the UK has been increased to £15.
Head of Debit Cards for Barclays, Brian Cunnington, commented: "Contactless technology is undoubtedly the future of payments and we are seeing it grow hugely in popularity. More than two years after the first customers were issued with contactless cards it is the right time for the industry limit to increase to £15, in line with demand from consumers and retailers alike. The new higher limit gives customers the flexibility of paying for even more transactions quickly, securely and conveniently via a contactless card payment and will lead to more retailers implementing the technology."
Contactless payment technology allows customers to make purchases up to the value of £15 by holding their card over a special reader. There is no requirement to insert the card into a terminal or to enter a personal identification number. Debt or credit card transactions are then processed in the same way as standard transactions, which are also possible.
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Homeowners who are juggling multiple credit card bills each month could consider taking out a secured loan to tie these existing debts up into one management monthly repayment. One of many finance options available, a secured loan for
consolidation could leave borrowers with just one monthly repayment that could potentially be lower than existing outgoings. However, if opting for a secured loan to consolidate debt, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
