A new contactless payment system called sQuid is expected to be launched next year in India by a UK-based Nucleus. The sQuid system is a stored-value smart card and is used presently for sub-$18 cash transactions in the UK. It is set to launch in Scotland as well.
“It is a smart card that will be used for low value transactions, such as buying coffee, newspaper, a sandwich, as well as it can also be used for transit,” Nucleus’ Peter Matthews said. While Nucleus hopes to launch in India next year, it is currently looking for joint venture partners.
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