Contactless banking 'still has some way to go'

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Contactless banking 'still has some way to go'

Using cards to wirelessly pay for goods and services is still in its infancy, an industry representative has said.

Jemma Smith, spokesperson for the UK Cards Association, claimed that while it is relatively early days for the technology, the situation is "set to change" in the forthcoming years.

Ms Smith stated there were 16.3 million cards and 66,500 readers ready for contactless payment by the end of May this year.

"The forecast for contactless cards is that there will be 30 million by the end of 2012," she added.

However, claims that the functionality might cause increase consumer spending is "difficult to see" happening.

Meanwhile, wireless banking continues to see improvements as Santander yesterday (September 15th) launched a new text messaging alerts service for its online customers.

Santander's eCommerce director Matthew Timms said the new system was developed in response to customer feedback asking for more control over their finances, with the facility highlighting the firm's commitment to customer service.

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