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Prepaid methods 'will be easy for credit card users to manage'
10 Jun 2011

The benefits associated with prepaid card technology have been highlighted to customers interested in contactless payment methods and retailers hoping to adopt such a strategy.

Kevin Harrington, managing director of the global prepaid exchange, believes that many Brits will find an easy crossover to prepaid schemes to what they are already used to.

He explained: "If you accept credit cards now you also already accept network branded prepaid cards, as they can look and work the same for the retailer."

Mr Harrington went on to note that firms such as Streamline and Barclays Merchant Services are making it easy and quick for contactless terminals to be fitted into shops, while the systems are "easier to manage than credit card" alternatives.

"Introducing a prepaid option for online payment simply means making it clear on your website that you accept credit, debit and prepaid," the expert also advised.

Recently, Visa has said that in the UK it hopes to have rolled out 20 million PayWave contactless cards by the end of 2011.