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Virgin Money set to offer contactless smart cards in the UK
2 Nov 2010

Virgin Money has announced that it is in the process of upgrading all of its bank cards to allow users to pay for goods without entering a PIN.

The company has started to replace all two million of its traditional cards with contactless-enabled cards.

Accountholders simply hold their card against the provided reader to pay for low-value goods quickly and easily at a range of retailers including Pret A Manger and Eat.

Major firms including Boots, the Co-Operative and Little Chef have also announced their intentions to install contactless terminals in their outlets over the coming year.

Grant Bather of Virgin Money claimed the technology can offer a range of benefits to both consumers and businesses.

He said: "Contactless payment is fast, secure and convenient, enabling customers to cut down time queuing."

Following the roll out, around one in five debit and credit cards in the UK will feature contactless technology.