Using your credit card to make a payment could become a stress-free routine like using the Oyster to access the Transport for London services. But this is more than an Oyster card. It’s a credit card; a brand new technology that allows a mobile phone to double as a credit card.

Some months back, Barclaycard courted its way to a banking revolution that enabled its customers make payments with their cards while avoiding the hassle of taking out the cards from their wallet. It christened the device contactless technology. Today Barclaycard, basking from the euphoria of the success that saluted the contactless technology, has unfolded another more sophisticated means for a simplified payment.

Barclaycard-Orange alliance

The new contactless payment, unlike the previous one, is an appliance that works with one’s mobile phone. It was developed by MasterCard, at the instance of both Barclaycard and Orange mobile phone provider, for their combined 28 million customers.

Hailed as the “biggest revolution in payments since plastic cards were introduced over 40 years ago,” the service becomes effective when a user swipes their mobile phone against a reader to pay for goods less than £10. The amount is automatically taken from their account – as simple as making or receiving a call or even topping up your air time.

Again, like the earlier contactless technology introduced by Barclaycard the new technology, apart from easy accessibility, makes payment even easier as one would not bother about prying eyes or the risk of losing one’s pin to unauthorised persons. It is just one system with so many advantages rolled into one, as the phones will have among their features a range of banking applications.

Safe use of card

However, despite the numerous advantages, some of which have been mentioned in this article, what are the likely downsides, if one may ask? Perhaps, it is important to note that there is no product with advantages that is devoid of disadvantages. But for anything to be worthy of going for it its advantages need to overwhelm or outweigh the disadvantages. This case is no exception.

One issue anyone subscribing to the service needs to consider is the possibility of having unauthorised persons gaining access to the device. This will depend on how careful an individual is. Of course loss or theft of mobile phones is quite an issue, but there are people that have never experienced it and have had the technology ever since its introduction. While it is essential that people guide against the likely occurrence of this, it is equally important to prepare a cushion in case it happens. Insuring your mobile phone may be likely way out.

Another way, which both Barclaycard and Orange may have thought of, is the possibility of having the phone rendered out of use completely when stolen or lost. But this will also depend of whether the user was able to extract the phone’s unique code and hand it to their provider. This has to before one loses it.

The Bluetooth issue

Like a computer with internet access, a mobile phone with access to the internet can easily be hacked into. It means that if one has vital information on the device it could also stolen by a hacker. Often, users leaving their Bluetooth turned on at all times are a higher risk, as their phone could automatically be paired with those of others at a close range. Malicious script writers have reached a level of perfection that they must be taken seriously. Working hard to run them out of business entails having the latest anti-virus, turning on your Bluetooth only when needed etc.

While commending both Barclaycard and Orange for taking banking technology to a higher level, it is hoped both the providers and their numerous customers will consider the issue of security a top priority. At least fraudsters won’t find it conducive enough for business as usual.