Lloyds rolls out contactless cards
(22 March 2010 – UK) Lloyds TSB has become the latest UK bank to start issuing customers with contactless debit cards, initially focusing on the London area.
All new and replacement Visa debit cards issued to customers within the M25 motorway will include contactless technology, with Lloyds expecting to hand out around one million by the end of the year.
Customers outside of the M25 will not automatically be sent an NFC card but can request one.
Users will be able to make payments of less than £15 by waving their cards over specially equipped point-of-sale terminals.
There are currently around 50,000 of the readers at retailers including AMT, Boots, Burger King, Clinton Cards, Pret, Spar and Subway, says Lloyds.
The move to contactless payments in London has been gathering pace, boosted by Transport for London's recent decision to upgrade all Oyster card readers across the capital to work at the touch of a bank-issued debit and credit card.
Philip Robinson, head, current account products, Lloyds TSB, said that with the increasing trend towards debit card usage over cash, contactless debit cards provide customers with convenient payment options.
"The launch of contactless debit cards is another example of how Lloyds TSB is responding to customer needs through innovation," Mr Robinson added.
Lloyds is following Barclays and Barclaycard into the market, which claim to have over 11 million contactless cards in circulation.
Last year Bank of America's card unit MBNA and Virgin Money also both committed to rolling out the technology.
Customers outside of the M25 will not automatically be sent an NFC card but can request one.
Users will be able to make payments of less than £15 by waving their cards over specially equipped point-of-sale terminals.
There are currently around 50,000 of the readers at retailers including AMT, Boots, Burger King, Clinton Cards, Pret, Spar and Subway, says Lloyds.
The move to contactless payments in London has been gathering pace, boosted by Transport for London's recent decision to upgrade all Oyster card readers across the capital to work at the touch of a bank-issued debit and credit card.
Philip Robinson, head, current account products, Lloyds TSB, said that with the increasing trend towards debit card usage over cash, contactless debit cards provide customers with convenient payment options.
"The launch of contactless debit cards is another example of how Lloyds TSB is responding to customer needs through innovation," Mr Robinson added.
Lloyds is following Barclays and Barclaycard into the market, which claim to have over 11 million contactless cards in circulation.
Last year Bank of America's card unit MBNA and Virgin Money also both committed to rolling out the technology.
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