19 April 2014

Co-op to introduce contactless payments

14 July 2010  |  8918 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."

Comments: (0)

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

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.

Featured job

to £90k base, double OTE
London, UK

Find your next job