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The success of the new ‘tap and go’ debit system has already seen MacDonalds, Books Etc and Coffee Republic sign up to the payment scheme. The convenience for retailers is certain to mean widespread usage when the system goes nationwide in Spring 2008. Studies undertaken at the introduction of debit cards showed consumer spending was higher when making purchases with cards as opposed to cash.
The same can only be assumed for ‘tap and go’, which will encourage small scale spending when breaking a note offered some deterrent when buying a newspaper or pack of chewing gum.
Other than shops and cafes, car parks, vending machines and taxis are also expected to have the ‘tap and go’ technology installed in 2008. Payments industry body Apacs estimates more than five million cards will be issued by the end of 2008 and accepted by 100,000 retailers.
