Asda Money reveals the dizzying possibilities contactless payments bring to the table, from ‘waving’ debit cards to digital jewellery.
Contactless technology touched down in the UK in 2007(1), and while the most common form of contactless payment is currently cards, where customers can ‘wave’ their plastic over a card reader, the future holds an exciting array of innovative possibilities.
Experts say that anywhere people queue to pay could be hit with a new generation of contactless payments, from mobile transactions to digital jewellery.
Are credit cards going in the same direction as the dinosaurs?
Cards are already being pushed towards extinction territory with the ability to pay by mobile; indeed, some such products have already been launched in the technology market.
Experts have warned that cards could be obsolete by as early as 2020, as they are rapidly replaced by mobile phones and a variety of other personal technologies.
One of these is digital jewellery, which could involve holding a bracelet on your wrist up to a reader to pay for goods.
However, for now, contactless payment by card remains king, especially since many big retailers have bought into the technology, in turn raising consumer awareness.
According to figures from the Payments Council, there are currently 31.3 million credit and debit cards enabled with contactless technology and 144,000 contactless terminals in retailers including Boots, McDonald's and Ikea.
Staying safe with a purchase limit
The Payments Council recommends a £20 limit on transactions as extra protection from theft.
With this in mind, Asda Money suggests a few things you could purchase for £20 via contactless payment.
30ml eau de parfum: Treat yourself or a friend to Christina Aguilera by Night eau de parfum from Boots. If you fancy exuding ‘oriental floral’, this is the perfect purchase!
Seven Big Macs: And a coke. A beef-tastic (and calorific) lunch for £20. Tasty, but not hugely advisable – unless you’re lunching with six friends.
A flight: No-frills airlines such as easyJet and Ryanair offer seats for as little as £20 to an array of exciting European destinations.
Notes to Editors
Asda Money is a trading name of Asda Financial Services Limited. Asda Financial Services Limited uses a selection of companies to provide its products and services. Please refer to www.ASDA.com/money for details of our product partners and the relevant terms and conditions for each of our products and services.
Founded in the 1960s, Asda today is one of Britain’s leading retailers. It has over 180,000 dedicated Asda colleagues serving customers from 542 stores, including 32 Supercentres, 309 Superstores, 27 Asda Living stores, 174 Supermarkets, 25 depots and seven recycling centres across the UK. It has its main home office in Leeds, Yorkshire and its George clothing division based in Lutterworth, Leicestershire. Asda serves over 18 million shoppers a week in store and its growing home shopping business at www.asda.com serves 98 per cent of UK homes.
Its Asda Price Guarantee, launched in 2011, gives customers the reassurance that a basket of groceries will always be 10 per cent better value than competitors. Powered by MySupermarket.co.uk, the APG is the only independent, transparent online grocery price-checker in the world. Asda joined Walmart, the world’s number one retailer, in 1999.