Barclaycard Global Commercial Payments has announced the launch of the UK’s first contactless corporate payment card.
All new cardholders can make purchases of £15 or under by simply holding the card over a reader. Aside from greater convenience for customers, the cards enable businesses to track all small transactions that until now were typically made with cash.
According to Barclaycard, all transactions on the card appear on the corporate card statement. No PIN or signature is required during payment.
“Contactless will enable businesses to track smaller transactions which are currently often made with cash,” said Dennis Bauer, managing director of Barclaycard Global Commercial Payments. “This gives businesses greater control over expenses as well as providing corporate customers an efficient and secure payment experience at the point of purchase.”
Global Commercial Payments is part of Barclaycard’s Global Business Solutions division, which serves 145,000 businesses and Government agencies in the UK. Barclaycard has issued 14 million contactless debit and credit cards and put contactless terminals in more than 55,000 retail outlets to date.