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Barclaycard predicts plastic credit card demise

Mon, 08 Sep 2008

The largest credit card provider in the UK, Barclaycard, have forecast that plastic physical credit cards could become a thing of the past. The company is aiming to boost its contactless credit card system .

Barclaycard introduced its first contactless credit card last year, with the launch of the OnePulse card. This microchip allows customers to pay by touching the card against a reader without having to remove it from their wallet or purse.

The group is planning to issue over a million contactless cards by the end of 2008. Over time, the technology will emerge to allow credit card companies to put the chips into mobile phones or key fobs.

The CEO of Barclaycard, Antony Jenkins, reportedly said: "In time you won't have to carry a plastic credit card around with you if you don't want to, although some people will chose to for nostalgic reasons. If I had said to you 10 years ago that you couldn't pay with a cheque at the supermarket, you wouldn't have believed me. That is now the reality, and we see plastic cards going the same way eventually."
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