UK Daily Mail
Tuesday, Sept 9, 2008
Once you wouldn’t leave home without it. But the credit card could soon be cashing in its chips.
Experts predict that paying by plastic will make way for payments by mobile phone, key fob or even fingerprint.
Like the cheque book, video cassette and CD before it, the plastic credit card could be on the way out within five years, according to leading financiers.
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Yesterday Barclaycard, which introduced the UK’s first credit card in 1966, announced it was pouring millions into developing ‘contactless payment technology’.
The group has already developed a credit card that can be read without having to be taken out of a wallet.
It hopes to take contactless payments a step further with chips that can be inserted into mobile phones, enabling shoppers to buy items by simply holding their handsets over them.
This article was posted: Tuesday, September 9, 2008 at 3:26 am