RSB launches contactless card
The Williams Formula 1 team made a scene at a McDonald's when they made the first public purchase with RBS's new contactless card at a drive-thru in Billingsgate.Contactless cards are a new innovation - allowing customers to makes payments of up to £10 by card, without swiping, signing or entering a pin number, by just by touching the cards on a special terminal.The cards can make transactions up to twice as fast, according to RBS, and will be appearing in branches of McDonalds, Oddbins and cafes, delis, pharmacies, bars and sandwich shops across London from September. Iain Clink, managing director of cards and direct finance at RBS said: "Having been the first in Europe to trial contactless cards means we know that everyone wins with this new way to pay."People love the convenience and speed of the card as well as the freedom from worrying about whether they have enough change for everyday things like morning coffee, a newspaper or a sandwich at lunchtime. "Retailers like contactless cards too because they make paying faster which means faster moving queues and happier customers."
Share this..
Related stories
How can we avoid a similar crisis in the future?
After a period of relative inactivity in the press, the chairman of the Federal Reserve has today suggested a number of solutions to ensure that we do not encounter any similar economic situations in the future. Ben Bernanke, chairman of the Federal Reserve has suggested that:-
1. The size and power of any one or any group of financial institutions needs to be monitored to ensure th...
Is the banking crisis over?
The recent report by the BBC panorama programme has today cast further doubt on the recovery in the UK financial sector after suggestions that two major UK banks were very close to going out of business. While it would be foolish to suggest that the UK is out of the woods yet there is a feeling that both confidence and stability in the banking sector have improved substantially of late even though...
Read MoreAre we at the start of a run on the pound?
The news that many holidaymakers and overseas property owners in the UK are "panic buying" Euros is starting to concern many investors in the currency markets. It seems that last week's comments from Bank of England, in which Mervyn King suggested that the UK economy was not recovering as quickly as others and the currency may be overvalued in the short term, has injected a significant amount of c...
Read MoreOECD warns UK government on interest rates
The Organisation for Economic Co-operation and Development (OECD) has today warned the UK authorities that an increase in UK base rates may be required sooner rather than later. The warning is based upon fears that inflation will increase in strength over the next few months which could ultimately derail the UK recovery. However, over the last few days it has become apparent that inflationary pres...
Read MoreLloyds bank set to escape asset protection scheme
Rumours in the city suggest that Lloyds bank is on the verge of receiving official clearance from the UK government and UK authorities with regards to leaving the government's asset protection scheme. This is a scheme which Lloyds bank agreed to join some time ago but requires a £15 billion premium to cover hundreds of billions of pounds of potentially toxic assets and ultimately protect the comp...
Read More