eMoney News

Co-operative gearing up for 2012 cashless society
22 Jul 2010

The Co-operative Food is to launch a trial of contactless payments ahead of the 2012 Olympics.

Shoppers at 100 of the company's stores will be able to pay for transactions of less than £15 using contactless cards.

If the scheme proves to be successful, it hopes to roll it out across most of its stores in time for the London Olympics.

That is being billed as a cashless event that will make use of contactless smart cards for transport, tickets and other low-value purchases.

The Co-operative noted that contactless payment, which is growing in popularity around the world, allows for quicker transactions, something which could help cut down on queues at supermarkets and petrol stations.

Mark Hale, director of Food IS for The Co-operative Group, said: "Contactless payment has huge benefits for our customers.

"In essence, this innovative technology will mean increased customer choice and faster transaction speed, which will vastly improve the customer experience."

More and more institutions are considering implementing contactless payments, with a report in the BBC recently indicating that the UK's summer festival circuit will embrace the technology from next year. 

Bookmark and Share
sQuid alternative payment network is protected