Latest payment technology for new TSB branded debit cards
In just six months (January to June 2014), all eligible TSB customers will be issued with a new TSB debit card with contactless functionality (this may exclude a small proportion with certain account types or types of customer (i.e. youth)).
TSB's commitment to rolling out contactless means that 2.2million of its customers will be able to use contactless technology by the end of June.
The rollout of contactless coincides with the issue of new TSB branded debit cards. The new cards will replace TSB customers' existing Lloyds TSB debit cards when they expire in the first half of this year, marking a significant step in the separation of the Banks.
Over 200,000 TSB customers already have contactless cards and contactless functionality has been provided as standard to new customers opening a TSB current account since December last year.
TSB debit card customers can use their contactless card to pay for small transactions up to £20 by simply holding their card over one of 164,000 contactless terminals in the UK. More retailers are now accepting contactless, including M&S, McDonalds, Starbucks and Boots, and from April customers will also be able to use their TSB contactless debit cards on the Transport for London network instead of oyster cards.
Jatin Patel, Products Director, TSB, said:
"More and more people are using contactless technology for small purchases which is why we are proud to be rolling out contactless cards to our debit card customers over the next six months. This is an important step to ensure our customers can benefit from the latest and most convenient payment options."
TSB customers can find out more about their contactless cards: www.tsb.co.uk/contactless.