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UK Supermarket to Trial Contactless Payment Services
UK high-street food retailer, the Co-operative Food Stores is planning to introduce NFC based contactless payment in its stores nationwide after joining forces with Barclaycard. Contactless payment allows customers to make purchases of £15 or less, without the need to enter a PIN or insert their card into a payment terminal. Once the card has been held over the contactless terminal, the secure transaction uses the tried and tested Chip and PIN technology to automatically add the purchase to the customer's credit card bill or debit it from their current account.
The roll-out will begin with a pilot in 100 Co-operative food stores next year after an agreement was signed with Barclaycard in partnership with Visa. If the pilot is successful, The Co-operative will roll out the terminals to the majority of its food stores in time for the 2012 Olympics, which is being billed as a contactless event.
Roll-out of contactless payment in the UK began in 2007 and there are now over nine million contactless enabled cards in circulation.
Sean Toal, Commercial Director, Food Retail, The Co-operative Group, said: "This is a great opportunity for The Co-operative to work in partnership with Barclaycard to become the first major food retailer in the UK to roll-out this unique payment method. It has received an excellent reception from both customers and retailers where it has been launched overseas and is ideal for our store portfolio."
Contactless payment is also expected increase throughput as research has shown that customers will walk out of a shop if they see an excessive queue length.
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