A new agreement has been announced that could benefit those looking to compare credit cards and find the best one for their needs.
TranSys, which operates London’s Oyster card travel payment system, is to work with Barclaycard and offer a new card with three separate functions.
In addition to being a standard credit card with chip and pin technology, it will also enable use of the Oyster function which allows commuters to pay for travel without carrying cash.
The third function is Barclaycard’s new ‘wave and pay’ system, allowing small everyday items to be purchased without the need for users to enter their pin number at the point of sale.
‘Wave and pay’ is aimed at the purchase of goods such as newspapers, coffee or lunch, where the amount payable is small enough not to require a signature or pin code.
Barclaycard’s chief executive, Antony Jenkins, emphasised the convenience of the new systems on one card.
“London has seen huge success with the Oyster card,” he said.
“Putting Oyster and Barclaycard together makes life even easier for Londoners and takes our customers an important step closer to fully contactless card payments elsewhere.”
The lender currently offers borrowers a varied range of credit options including the Graduate and Platinum Barclaycards.
This article: © Moneyexpert Ltd.