From what I've read the jurys still out on whether NFC is secure. WEP wasn't. We'll see. Barclayscard is smart...they're playing both sides, everything remains the same with their IC debit cards, except for the addition of embedding an NFC chip. If Near Field Communications is proven secure by then, Barclay's will be ready by 2011. Will NFC be?
Barclays Goes Contactless on Debit Cards
Barclays customers will soon be able to pay their way with the wave of a card as the bank is set to be the first in the UK to roll-out contactless VISA debit cards to its customers.
From March, most Barclays debit cards that are issued or reissued will have contactless technology built in as standard. More than three million customers are expected to be using contactless debit cards by the end of the year.
The cards use contactless technology to enable transactions of £10 or less to be paid for by holding the card up to a special reader, without the need to enter a PIN or insert the card into a terminal. The transaction is debited directly from the customer's current account in the same way that a standard card transaction is. The cards will still have chip and PIN which will be used for purchases and for ATM transactions. Periodically the card will prompt for the PIN to be entered to verify the customer's identity.
Mark Parsons, Managing Director of Current Accounts for Barclays, said: "Barclays has long been a pioneer in banking. We were the first to launch the debit card in 1987 and now we are the first to give our customers the latest incarnation - the contactless debit card. This gives people a new way to pay for things that is quick, secure and convenient and we are confident that it is going to be really popular with customers."
Over 8000 retailers already accept contactless payments with more installing the technology every week. Barclaycard was the first to introduce contactless technology on credit cards in the UK in September 2007 with the launch of Barclaycard OnePulse, the three in one oyster, credit and contactless card.
For more information on Barclays contactless debit cards go to barclays.co.uk/contactless. To search for outlets which accept contactless payments visit the Visa website at visapaywave.co.uk
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