Edit Story Would You Use A Credit Card Stuck To Your Phone - UK news

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Would you use a credit card that you stuck to the back of your phone? Barclaycard hope you will as they launch what they believe is the next big step forward in wave-and-pay technology.

Credit cards which do not require a pin and can only be used for payments up to a maximum of £15 have been in use for years but the new Paytag is only a third if the size of a normal credit card and with an adhesive back Barclaycard intend users to stick it onto the back of their mobile phones.

Customers will be offered the new card or can request one if they wish to trial it. There has been talk of mobile banking by various companies, but Barclaycard are the first to produce a product that fits the criteria. They say it will give people the ease of mobile banking without having to upgrade their mobile.

Barclaycard are hoping that if the technology proves a success they will be able to approach a mobile phone company who will insert a payment chip into their mobile phone models. The benefits to the bank are that people will be encouraged to make payments on their credit cards rather than debit cards, a preference not held by retailers as the costs to them are much higher than when people use cash.

The most obvious concerns however are fraud and theft however the current law states that banks must refund any fraudulent payments made on these cards without payments.

“I definitely wouldn’t want one. People are more likely to notice that you have one of those cards on your phone. I think that they would be more likely to steal it or they could pick your phone up off the table or take it out of your bag, pay for something and then put it back without you noticing,” said one Blackberry user.

Whether this catches on remain to be seen but if it does it is likely to be the first in a wave of imilar technologies.

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