It seems that Barclays' plans to release a triple-function Visa card, complete with RFID (PayWave), Oyster card and regular credit card facilities, are now well advanced.
The card now has a name - Barclaycard One Pulse - which is quite snappy, but it also seems that other peeps are realising the security implications of having a payment card that can be used without a PIN or signature being required.
Okay, PayWave transactions are limited to under a tenner, but as I've said before, losing an Oyster card is one thing, but losing a PayWave card is a serious potential disaster, especially since there are no definite mechanisms for `stopping' a Paywave card.
The problem with PayWave is that transactions are not normally processed in real time. The cards are compared to a regularly downloaded hot card database, but the transactions are processed on a batch basis to save costs.
According to newswire reports, Barclays has already signed up more than 1,000 retailers to the One Pulse scheme and plans on launching the card to London-based Barclaycard holders next month.
Even when the system rolls out to the sticks, where Chez Gold is based, I don't think I'll be rushing to sign up.
Call me picky, but I'll stick to my Oyster card for the time being...