Barclaycard and telco launch contactless rewards credit card
Barclaycard and a mobile telco have launched a co-branded contactless credit card that features a rewards scheme and enables customers to track their spending via SMS notifications.
The launch of the MasterCard card by the card issuer and telco Orange is part of a strategic alliance the pair formed last March to drive the development and adoption of contactless m-payments.
The card can be used to make purchases of up to £10 at specially equipped POS terminals.
A loyalty scheme will back the launch with customers able to earn one Orange Credit Card reward point for every £1 spent. This can be redeemed online or by phone, for vouchers that customers can spend at high street shops or use as discounts on all Orange products and services purchased through Orange shops. Tickets for trips and special events and charity donations are other possible rewards.
Automated SMS alerts will let cardholders keep track of their spending, and they will also be able to set alerts and blocks on card spend online, abroad or for high value transactions. In addition weekly or monthly budgets can be set with alerts informing users when they are reached.
Marc Overton, VP, wholesale, business development and partnerships, Orange UK, commented: “A key part of our UK strategy is to grow and evolve our business, whilst at the same time provide extra value for our customers. In partnering with Barclaycard, we believe we’re doing just that, and today’s announcement is the next exciting step in the journey to the future world of consumers paying for everyday goods on their mobile phone.”
O2 also operates up a personal finance unit in partnership with NatWest that has issued two prepaid cards.