Barclays plans "wave & pay" card

LONDON (Reuters) - Barclays will roll out its "wave and pay" card in London from September, combining a traditional credit card with Oyster transport payment and a contactless card for small items.

The new card, to be called Barclaycard OnePulse, follows the announcement in December that Barclays and Oyster were teaming up. The combined card also allows users to pay for transactions of under 10 pounds with the contactless payment, where the card is waved over a scanner rather than using a standard PIN.

Contactless payment systems such as Oyster have proved popular as they reduce the need to carry cash. They are expected to be well suited to low-cost retail environments such as fast-food outlets, coffee shops and newsagents.

Some 10 million Oyster cards have been issued and about three-quarters of all London Underground and bus payments are now made by the card. Oyster fares are lower than those charged for cash payment.