Post Office becomes biggest accepter of contactless payment in Europe
Post Office Limited is leading the way in payment technology with today's announcement that it is to roll out contactless payment terminals across 30,000 counter positions in its unrivalled network of over 11,500 branches.
The move makes the Post Office the biggest user of contactless acceptance technology in Europe allowing customers to pay for transactions using contactless cards and Near Field Communication (NFC) equipped mobile phones.
The roll out starts on the 6th June in almost two hundred branches around the various Olympic sites and is expected to be completed by the end of October 2012. It is the largest deployment of contactless technology in Europe and is expected to increase consumer awareness and usage and, through the Post Office network, put this technology within three miles of 99% of the UK population.
Lesley Sewell, Chief Information Officer, Post Office Limited, said: "We are delighted to be delivering cutting edge technology through the Post Office network. Contactless will bring huge benefits to our customers by increasing choice and reducing transaction times. Over the next few years, many Post Office branches will be transformed, becoming more customer focused, opening for longer and providing services in a convenient and efficient manner. Today's announcement further demonstrates our commient to providing customers with more choice and great service."
Contactless payment allows customers to pay securely by tapping their card over a reader at the point of sale. Once installed, holders of MasterCard PayPass or Visa payWave cards will be able to use this technology in all Post Office Limited branches across the UK. With benefits of faster transactions and lower transaction fees, speed and convenience at the point of sale and a limit of £20 per transaction make Contactless payments ideal for quick service businesses with low value transactions.
Marion King, President of MasterCard UK & Ireland, said: "MasterCard PayPass is already accepted in 425,000 locations in 37 countries. We're delighted the Post Office is joining us in our vision of a world beyond cash and offering more people in the UK the opportunity to use this safe, simple and smart way to pay."
Mark Austin, Head of Contactless at Visa Europe, said: "There are over 21 million contactless Visa cards in the UK today and by the end of the year there will be more than 30 million around the country. Our research tells us that people who experience contactless payment love the convenience and speed that it enables. This announcement marks a major milestone in making that technology even more widely available across the UK."