span There are a few institutions
class="cap">I t is already dipping their financial
possible that this toes into this water. Some
innovation in credit card use retailers will now accept
will quickly become a norm. It payments of under £10 from
seems that this new system would customers who only have to touch
be the next logical step in the reader with their card to
credit card history. In addition, have the cash debited from their
it could represent a leap as big accounts.
as the move from the old These new generation of debit
mechanical credit card machines and credit cards could replace
to the electronic card readers. all cash, credit and debit
Statistics from MasterCard transactions. One Pulse is a card
indicate that a credit card use from Barclaycard, which it is
is fast becoming peoples marketed as a three in one card
preferred payment method. Eighty system.
percent of the people they However, it may indicate the
surveyed gave the opinion that future of all credit cards, it’s
debit cards were far more a card that can be used as a
convenient than cash payments. traditional credit card, and it
Nearly 65%, also said that they can be used on the London
felt secure, using a debit card underground as an Oyster card.
over cash.
And lastly, as a "wave and go"
The government, the taxman and card for items under £10.
the credit card companies have The attraction for shops, is
long been in favor of a cashless that a card like this will allow
society where all payments are much faster payments, as the
made with plastic. It seems now teller does not have too give
even the public now agree that change or process, a credit card
this may be the way to go.
payment. For the shopper ‘one
card buys all’, eliminating the cardholder’s bank account in the
use of multiple credit cards or same way a traditional debit card
carrying large amounts of works.
cash.
The eventual aim of these cards
MasterCard’s, in the strongest is to combine all payments into
position at the moment with the one place.
card already used in 20 countries
It is thought that in the end
by 17 million people. Using the traditional wallet will
PayPass credit card holders disappear replaced by a slim
simply touch the card onto the credit card holder for your one
electronic reader and away they or two credit cards that will
go.
work in combination, to provide
There will be several versions many payment options.
of these cards first, a
It is also believed that these
traditional credit card. The wave cards may only last a few years,
and go option, added to it. A and then be replaced by a couple
gift card that has to be paid in of other options. There are
advance and then is usually given currently a new generation of
as a present for perhaps a cell phones in development that
birthday, or possibly as a will allow you to use your phone
replacement for a child's as a credit card. It is not
traditional ‘pocket money’.
science fiction the system is
There will be regular prepaid already being used in Japan.
versions of the card that require
Over in the US people have
an upfront deposit to activate been paying for goods with only
the card and can then be topped their fingerprints for last five
up as needed, either in cash or years.
by electronic transfer.
There is a debit version that
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About the Author:
Joe Kenny writes for Credit Cards Web, offering credit cards or onlystop.com for some great credit cards, for US residents with credit card debt visit Rebuild for debt relief
Article Tags: card, cards, credit
