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Thursday, 27 June 2013

Could this be the end of cash-in-hand? New Chip and PIN device for tradesmen is launched

Daily Mail: Window cleaners, plumbers and other traders are to be armed with portable plastic card readers in a move that could do away with cash. The small black devices allow people to pay for small jobs on the spot using a debit or credit card rather than raiding wallets, purses or piggy banks for cash. The device links to a banking app that can be downloaded by the tradesman to their iPhone, iPad or Android smartphone. The new system, known as Zinc, is being launched by the WorldPay organisation, which works alongside leading banks and card companies. It is one of a number of companies, which also includes Payleven, that have developed similar devices to effectively replace cash for small value purchases.

It allows the likes of plumbers, electricians, window cleaners, market traders and mobile beauticians to accept card payments, removing the need to spend time chasing customers for payment and repeated trips to the bank to deposit cash. The customer simply inserts the card, checks the total and taps in their four digit PIN to transfer the money...read more>>>..