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New MasterCard 'PayPass' Cards Launched in London
A new card to use for purchases under £10 without the need for a Pin number has been introduced in the capital, with a national rollout planned for 2008. The card is placed on a special reader that deducts the money, by transmitting payment details wirelessly, from their bank account or is added to their credit card account. You can use the new card abroad, as 13 other countries now use and accept the PayPass system. If you use the new card for multiple consecutive transactions it flags up a security mode where you need to insert the card and add a Pin number. It is hoped that the new PayPass card will speed up queues at busy times, such as lunchtimes, and be convenient for those who don't tend to carry cash to pay for incidentals. More Financial NewsHouse prices up - Demand downWealth Gap biggest for 40 yearsBrown promises three million more affordable housesImportant Checks Before You Sign Up For a LoanGetting a Loan when you have a bad history 'more difficult' say Lenders
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