02 August 2015

Co-op to introduce contactless payments

14 July 2010  |  9205 views  |  0 Barclaycard Oyster 1

The Co-operative Food will become the UK's first major grocery retailer to introduce contactless payment in its stores nationwide after joining forces with Barclaycard.

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 says it 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, where visitors will be able to use the new cards to pay for transport, tickets and other low value purchases.

Roll-out of contactless payment in the UK began in 2007 and there are now over nine million contactless enabled cards in circulation, with Visa estimating that 12 million will be in issue by the end of the year.

The Co-op expects contactless to increase throughput as research has shown that a large number of customers will walk out of a shop if they see an excessive queue length.

Mark Hale, director of Food IS, The Co-operative, says: "In essence, this innovative technology will mean increased customer choice and faster transaction speed, which will vastly improve the customer experience."
KeywordsEFTPOS

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

07 July, 2010
02 July, 2010
01 July, 2010
09 March, 2010
02 March, 2010
07 January, 2010
11 November, 2009
30 October, 2009
27 October, 2009
13 October, 2009
12 May, 2009
13 February, 2009
06 January, 2009

Related company news

 
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
ING Bank introduces voice-activated mobile...
9239 views comments | 26 tweets | 30 linkedin
Will Uber be the Uber of banking?
7554 views comments | 40 tweets | 31 linkedin
Payments and capital markets sectors domin...
6381 views comments | 17 tweets | 18 linkedin
Singapore hires Citi veteran to lead new f...
5703 views comments | 13 tweets | 5 linkedin
Bank branches key to fending off digital c...
5644 views 11 comments | 21 tweets | 29 linkedin

Featured job

c,£100,000 basic £200,000 OTE.
London

Find your next job