Liverpool takes lead on contactless payments

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If you’re hopping onto a bus in Liverpool this week you’ll be able to leave your change in your wallet and pay for your journey just by waving a card.

PayPass ‘Tap & Go’ tech is being rolled out by Stagecoach Merseyside on its fleet of 200 buses, and will enable anyone with a MasterCard PayPass card to wave it near or on a reader to pay for their journey.

The launch is in partnership with RBS WorldPay and is supported by Commidea, a provider of credit card processing systems.

The technology enables consumers to pay for items or services of less than £10 in value, without having to enter a PIN. Other retailers such as Boots, will also be rolling out the technology in the coming weeks.

Matt Rowsell, head of business development at RBS WorldPay, said in a statement: “In the same way that Chip and PIN has revolutionised the way shoppers pay, contactless is the future of small ticket transactions. It is in line with customer preferences and gives retailers an ultra-low cost, fast and secure payment option at the tap of a card.”

According to a study by RBS WorldPay, 76 per cent of retailers believed the technology would be cost effective and efficient. Specifically, 41 per cent believed that it would save time through faster transactions.

The study also showed that it would reduce the amount retailers lose through incorrect change being issued, which currently stands at £698 for newsagents and £739 for bars and restaurants.

The technology was viewed with suspicion by consumers when it first appeared in 2007, fearing that it would be less secure than Chip and PIN. Since then, the technology has been successfully rolled out by companies such as Pret A Manger and Coffee Republic.

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