Barclaycard SmartPay set to be unveiled this summer

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Barclaycard SmartPay set to be unveiled this summer

Consumers and retailers can look forward to taking advantage of the Barclaycard SmartPay system this summer.

The firm revealed that it will be launching the payment processing system at some point in the next three months.

It will feature fraud-protection tools and be PCI DSS compliant, according to the firm.

Managing director of global payment acceptance at Barclaycard Paul Cook hailed the significance of the new system.

"Barclaycard SmartPay will make it easy for businesses which operate across the EU to accept all types of payments online," he explained.

One of the key features of the new technology is that it will cover cross-border payments and offer the customer the opportunity to alter the language and currency settings of their transaction.

This month, Barclaycard revealed that the interest rate on its Platinum Simplicity product has been cut to 6.8 per cent, with this fee applying to purchases as well as balance transfers.

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