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Contactless smart cards 'ideal' for low value payments
7 May 2010

Contactless smart cards should be used to make low-value transactions, according to experts.

UK Payments, the industry information service, noted how methods for small payments had not evolved in the last 20 years, while other areas had developed cash alternatives. 

Jemma Smith, head of PR at UK Payments, expressed her belief the move would be a huge success, enabling users to buy goods quickly and securely. 

She said: "Contactless is a viable and convenient option for these payments. We are a nation of card lovers and you would think it would not be a difficult step for customers already using cards, hence this could really take off."

Currently, 75 per cent of all cash transactions are lower than £10, highlighting the huge market that low-value contactless solutions could develop. 

One company currently offering UK customers the chance to make low-value contactless payments is sQuid. 

The sQuidcard allows users to buy everyday items such as their morning coffee or a magazine, without the need to fumble for change.