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Contactless credit cards 'will not replace cash'

Contactless credit card technology is not aimed at replacing cash, it has been claimed at a question and answer session on the issue.

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19 February 2009

Contactless credit cards 'will not replace cash'”

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The BBC News website collected queries about the latest developments from its readers and put them to experts from the finance industry.

Jemma Smith from Apacs was asked about those who were unable to use a credit card due to previous problems such as insolvency - and replied by saying that they will definitely still be able to use cash.

"There are no plans in place to get rid of cash," she explained. "Contactless technology is simply an alternative for customers who would prefer to use cards than coins."

This type of transaction is already being used in certain parts of the UK and enables consumers to pay for goods under £10 by pressing or holding their card near a sensor installed at the till-point.

It works similarly to Oyster cards, which are a type of payment method accepted on London transport systems.

Ms Smith added that the banking sector is confident in the system not causing a spike in fraudulent activity.

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