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Orange moves into banking
MOBILE TELCO Orange announced a tie-up with Barclaycard today that will see the pair give their customers a contactless payment card.
Judging by the accompanying marketing blather this means that rather than take your card out of your wallet and insert it into some kind of slot, Orange spendaholics will only have to take it out and wave it in the direction of the relevant cashier and paypoint. Presumably this will only save seconds off a transaction, but it also looks likely to help shoppers to fall afoul of payment card skimmers and other under-the-radar ID theft scams.
Marc Overton, vice president of wholesale business development and partnerships for Orange UK said, "A key part of our UK strategy is to grow and evolve our business, whilst at the same time provide extra value for our customers. In partnering with Barclaycard, we believe we're doing just that, and today's announcement is the next exciting step in the journey to the future world of consumers paying for everyday goods on their mobile phone."
The card can only be used to make payments of £10 and under, and according to Orange will make it easier for users to keep track of their finances thanks to text alerts and spending limits. The firms said that they would be accepted at high street retailers, Marks & Spencer and HMV, and users will earn reward points for every £1 that they spend.
Chris Wood, managing director at Barclaycard added, "We are seeing demand from both retailers and customers for ever more convenient ways to pay and accept payment and believe that mobile and contactless technologies are key to meeting those needs. This announcement shows how, in partnership with Orange, Barclaycard is starting to make mobile contactless payments a step closer for UK consumers." µ
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Barclaycard have been issuing contactles cards for ages, shops have been accepting them for ages. Also the tech is pretty secure.
I suspect the only weak point is the RFID reading itself, seing as card processors can now offer 2048 bit end to end encryption from PED to Bank.
the internet didn't work when I submitted the comment. When I back-clicked the page reloaded and my comment was gone.
Pah.
Can they pull more money from you? sure they can assholes.
use it to buy a perch on a Ryanair flight?
Is this just a rebadged offering (as per the cards mentioned by davefb above) or actually something Orange are creating themselves. I read from the article that they are just rebranding the service from Barclaycard and levering their existing account base.
Nice, so now when someone nick your phone they'll be able to clear your bank acc out as well... A great step forward.
so what was my orange credit card that I used to have then ? It had started as a freeserve one, but was branded orange for a while, marbles as well, before they moved it to beneficial finance(hsbc?).
Who have now terminated all cards (as of 31/12/2009) havent terminated the debt though :(. I wouldn't mind, but I liked it as the orange card..