Touch and Go cards to be launched

MasterCard and Visa are in the process of introducing new touch and go payment cards, which will reportedly make it easier for consumers to make certain payments without have to worry about signatures or pin numbers. A number of banks will be working alongside MasterCard and Visa to get the cards issued, and this includes Barclays, Bank of Scotland, Lloyds TSB, and the Royal Bank of Scotland. The launch is expected to take place in September of this year, and London will be the first to get the cards. They will then be rolled out across the rest of the country over the next year.

The idea behind the touch and go cards is to make it easier for consumers to make small payments whilst out and about without having to worry about going to the cash point, remembering pin numbers, or having to sign. Officials think that it will be easier for consumers to make all sorts of payments that are for smaller amounts, such as paying for a taxi, buying a sandwich, or getting a drink in the pub. The card will simply need to be scanned and then the payment will come off the consumers account as it would with a debit card.

The card will need to be put through a special scanner, and retailers and companies will need to have the scanners installed to read the touch and go cards, so an update of technological equipment will be required for those that want to accept this new technology. Some consumers groups have expressed concern that the touch and go cards will make it harder for consumers to keep track of their spending, and could result in them spending more than they think they have.

However, one official from MasterCard stated: 'Our experience has shown us that consumers love the convenience, simplicity and security of tap-and-go when paying for everyday things such as newspapers, sandwiches and drinks.'

Tom Smith
7th June 2007