The
Royal
Bank of Scotland (RBS) has demonstrated a technology that uses radio waves
to transmit data and make a payment.
The contactless cards allow payment for items up to £10 by touching
specially-enabled RBS debit or credit cards to a terminal.
In a publicity stunt designed to show off the speed of the transaction, a
Formula
1 car from the RBS-sponsored
AT
&T Williams team used the new type of card to buy food at a
McDonald's
drive-through in London.
The bank said that trials of the cards show they can halve the time taken for
a cash transaction. UK retailers will start using the new technology from
September 2007.
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Accounts converted into bonds to prevent banking meltdown 14 Aug 2007
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