Mon Sept 10 2007

By Jennifer Hill (Source. www.reuters.co.uk)

LONDON (Reuters) - A three-in-one card that will allow Londoners to pay for their tube journey, lunch-time sandwich and more expensive purchases on credit has been launched in the capital.

The Barclaycard "OnePulse" card combines an Oyster travel card, contactless payment facility, which allows users to pay for low-value goods by touching their card against a reader, and a credit card.

Cardholders are able to pay for goods worth 10 pounds or less by swiping their card over a reader at participating retailers, including Books Etc, Chop'd, Coffee Republic, EAT, Krispy Kreme, Threshers and YO! Sushi.

Antony Jenkins, chief executive of Barclaycard, and Shashi Verma, director of fares and ticketing at Transport for London, were among the first to use the card at an event in Canary Wharf tube station on Monday morning.

Launching the new card, Jenkins said: "Barclaycard OnePulse will make life easier and more hassle-free for those who live and work in and around London."

Sean Gardner, chief executive of price comparison service MoneyExpert.com, said it was another step towards a cashless society.

"(This) is a genuine advance in the credit card industry and looks set to cause a real stir in London.

"Experts have been predicting the end of cash for years and this looks set to be another step in that direction."