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Equifax: Confidence in contactless credit cards needed

Customers need to be convinced of the security of contactless credit card payments in order for the transaction medium to become popular, it has been suggested.

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12 January 2009

Equifax: Confidence in contactless credit cards needed”

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In recent days, Neil Munroe, external affairs director at Equifax, said there is always a certain amount of wariness on the part of consumers when new technology is introduced and that contactless credit cards are no different.

He added: "I think they [contactless payments] will come in a few years' time and it will start to be more developed."

However, Mr Munroe stated he thought the "majority of users" would predominantly make use of online banking and traditional cards for "a reasonable period of time going forward".

The Equifax representative's comments follow the publication of the most recent quarterly statistical release from Apacs - the UK Payments Association.

According to the reports, 1.9 billion plastic card purchases were made during the third quarter of 2008.

Written by Sam Dawson

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