19 April 2012

Mini Stick-On Credit Card Unveiled By Barclaycard

The latest contender in the fiercely fought battle to launch a digital wallet has been announced – a mini stick on credit card.

Unveiled by Barclaycard, the bank is hoping that UK customers will attach the extra card to their mobile phones and use them at "contactless" terminals for everyday purchases.

The stick-on card allows cardholders to spend up to £15 at certain stores, without entering a Pin.

However, the latest product, which will be available to millions of Barclaycard customers by the end of the year, remains some way short of interactive banking on a mobile phone.

A number of Barclaycard customers will receive a letter in the coming offering them the new ‘PayTag’.

At one third the size of a regular credit card and a sticky reverse side Barclaycard have said people should stick it to the back of their mobile phone handset because most adults carry their phone with them at all times. However cardholders could attach it to a wallet or a key ring instead.

It will be sent without charge to customers who request it and will come in addition to their regular credit card.

Barclaycard's Tom Gregory said that the new product gave anyone the opportunity to use a credit card stuck to their phone, without having to upgrade their mobile.

The possible implication is that a big take-up would eventually allow Barclaycard to approach mobile phone manufacturers with evidence that inserting a payment chip in a handset would be popular.

David Chan, chief executive of Barclaycard Consumer Europe, said he wanted the product to "open people's eyes to mobile payments".

(H)