13/12/2006

A new card that allows users to pay for everything from tube travel to coffee has debuted in London.

The new 'touch and go' cards represent London's first integrated contactless travel and payment card and has been launched in partnership between Visa Europe, Barclaycard and Transport for London.

Users will be able to pay for goods worth less than £10 - be they tube tickets, lunch or after work drinks - simply by waving their card over a reader.

The card also contains standard chip and pin technology for purchases made over £10 to guarantee security and will also act as an Oyster card for travel on the capital's bus and tube network.

Sandra Alzetta, senior vice president for consumer market development at Visa Europe, said: 'This is Europe's first multi-function contactless card, leveraging Visa's investment in chip technology and will help realise our wider strategy of encouraging card usage for low value payments.'

She also said that such technological advancements were necessary in order to stimulate low value, high volume retail sales and help the capital's economy derive the full benefits from the increased visitor numbers the 2012 Olympics Games are expected to attract.

The 'touch and go' cards are expected to be available by the summer of 2007, having proved successful in a live trial earlier this year.