The UK’s Co-operative (Co-op) chain of
supermarkets has become the first major grocery retailer in the
country to launch contactless payment in its stores, after teaming
up with Barclaycard.
Contactless payment will allow Co-op customers
to make purchases of £15 ($22.80) or less, without the need to
enter a PIN or insert their card into a payment terminal.
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The roll-out will begin with a pilot in 100
Co-op food stores next year after an agreement was signed with
Barclaycard in partnership with Visa. If successful, the Co-op will
roll out the terminals to the majority of its food stores in time
for the 2012 London Olympics.
There are over nine million contactless
enabled cards in circulation, with Visa estimating that 12 million
will be in issue in the UK by the end of the year.
Stuart Neal, head of UK payment acceptance at
Barclaycard said: “We’re absolutely delighted that The Co-operative
is joining forces with Barclaycard to roll out contactless payments
across all of its stores.”
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