The Co-operative Bank, a commercial bank in the United Kingdom and Guernsey, is the latest bank to launch contactless payments on credit and debit cards, according to which.co.uk.
Customers will now be able to make purchases of up to £20 using their contactless-enabled credit and debit card, without the requirement to enter a PIN number or provide a signature. The user simply holds his or her card over the contactless-enabled Chip and PIN terminal, at which point transactions are automatically added to a credit card bill or debited from a current account.
The Co-operative Bank is planning to issue contactless payment cards to more than two million debit and credit card customers, giving them to all new customers and replacing people’s existing cards when they expire.
Additionally, Co-operative Group has installed terminals in 172 of its food stores within the M25, four in Manchester and right across its network of pharmacies.
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