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Contactless payment technology 'is still in early stages'
15 Sep 2011

The development of contactless payment technologies is still in its earliest stages in the UK, with one expert suggesting this could be about to change.

Jemma Smith, spokesperson for the UK Cards Association, predicted high numbers of companies would upgrade their services to cater to the innovative cashless method.

She also forecast an increase in the number of business installing readers at till points throughout stores to make purchasing items an easier and more efficient task.

However, Ms Smith suggested that although the use of contactless payment methods could make shopping much simpler for consumers, it may not encourage them to spend more.

"Contactless might cause migration of payments - mainly from cash - but it difficult to see any reason why its increased availability would increase consumer spending," she explained.

Her comments emerge after shoe repair and key cutting firm Timpson announced plans to introduce contactless payments across its network of stores from October.