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Barclaycard launches ‘PayTag’

Barclaycard launches ‘PayTag’

Category: Credit cards

Updated: 28/08/2012
First Published: 19/04/2012

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Barclaycard is making it even easier for its credit card customers to make contactless payments having launched 'PayTag' – a mini-card that can be stuck to the back of mobile phones.

The PayTag has been described as 'an extension of a customer's credit card account' and is around a third of the size of a normal card.

The card is designed to be stuck on the back of mobile phones and used to make contactless payments, meaning any phone can be turned into a mini credit card.

A handful of customers will be invited to use the PayTag in the next couple of weeks, before it is rolled out to millions of Barclaycard customers later this year.

Contactless payments allow customers to pay for items without having to enter a pin, instead swiping their card over a contactless payment terminal.

Currently, customers can make contactless payments of up to £15 at a number of retailers, including McDonalds, Boots, and Subway.

Other retailers are also planning to adopt the system, while by the end of 2012, London buses will also accept contactless payments followed by the Tube and the rest of the transport network in the capital in 2013.

The maximum amount customers can pay for without entering a pin is also to rise from £15 to £20 in June.

"Today, we are offering the choice of mobile payments to millions of our customers at no additional cost to them," said David Chan, CEO of Barclaycard Consumer Europe.

"More than half of us say that the item we're most lost without is our mobile phone, so we're giving people the option of using them to make easy, convenient, everyday payments without the need to upgrade their current handset."

Find the best credit cards allowing mobile payments.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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