January 21, 2010
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News: Barclay Offers Mobile CC Processing
The next generation of technology has emerged on the credit card scene. Wireless companies have been in a race to be the first to offer a secure and efficient electronic payment processing program. A number of new products have been introduced claiming to be the answer to the small business owner's growing need to process credit card payment at offsite locations. An additional need for all consumers is the security and protection of personal and credit card information that can often be compromised during the payment processing procedure. Barclay believes that they have the answer to these concerns and that their new technology will change the way businesses and individuals do business in the future.
Barclay, the global British financial organization, has partnered with Orange Communications to launch its new contactless credit card. With the new system, cardholders will have the ability to make payments by a simple swipe across a card reader. The contactless payment system is currently installed with over 20,000 retailers and over five million Visa credit cards in circulation. The new Barclay and Orange mobile phone will give consumers the capabilities of using their cell phones to process card payments. The program also enables consumers to schedule daily or weekly spending targets.
The program will also reward Orange cellular customers a point for every dollar spent using their phone's credit card network. As electronic payment grows, identity theft and card theft has also continued to grow making it even more important that new technology contain robust security protection. Both companies say that the new system is very secure and meets the growing needs of merchants and consumers. Orange communication's Vice President of Wholesale, Business Development, and Partnerships, Marc Overton, said that the new contactless card system is a part of the next generation technology and sign of what consumers can expect from the financial industry.