RBS launches contactless payment card

by Gill Montia

Story link: RBS launches contactless payment card

Royal Bank of Scotland (RBS) has been making use of its sponsorship of the AT&T Williams formula one motor racing team, to launch its new contactless debit card.

The AT&T team used the card, which is the first payment card of its type in the UK, to purchase a takeaway at a drive-thru in Billingsgate, London.

This new method of making purchases allows cardholders to pay for items of up to £10 by touching their specially-enabled RBS contactless debit or credit cards on an RBS terminal.

In trials, the cards have been shown to halve the time taken for a cash transaction and both consumers and retailers have responded enthusiastically to the new system.

It means that consumers no longer have to concern themselves with having cash for very small purchases, such as a newspaper.

At the same time, retailers benefit because the speed of the transaction reduces queues.

McDonald’s, the fast-food provider, plans to make contactless payment available in 12 of its London outlets by the beginning of October, and expects to extend the technology nationwide.

RBS has reached agreement with a number of other businesses, such as cafés, delicatessens, pharmacies, bars and sandwich shops.

These are based in the City of London and on the South Bank, where the new technology will be available from September.

RBS has also launched a website for customers to register their interest in receiving a contactless debit or credit card, at www.rbscontactless.com.