The card will offer customers the option to set their own spending levels and a choice in how they are kept up-to-date with their account and will provide customers with the chance to make purchases of £10 and under using contactless technology, similar to the Oyster Barclaycard.
Marc Overton, vice president of wholesale, business development and partnerships at Orange UK, says: “A key part of our UK strategy is to grow and evolve our business, whilst at the same time provide extra value for our customers. In partnering with Barclaycard, we believe we’re doing just that, and today’s announcement is the next exciting step in the journey to the future world of consumers paying for everyday goods on their mobile phone.”
The companies say this is the latest step in Orange and Barclaycard’s long-term strategic partnership aimed at introducing a broad range of mobile, financial and payment services to evolve the way consumers make payment transactions in the UK.
Orange claims it will allow customers to better manage their finances through features such as automated SMS alerts to keep a tab on spending and the ability to set alerts and blocks on card spend online, abroad or for high value transactions.
Customers can also set a weekly or monthly budget and set alerts when the budget is reached or chose to automatically decline transactions if they exceed the budget
A loyalty scheme will back the credit cards launch. Customers will earn one Orange Credit Card reward point for every £1 spent, which can be redeemed online or by phone, for vouchers that customers can spend at high street shops or use as discounts on all Orange products and services purchased through Orange shops .Tickets for trips and special events and charity donations are other possible rewards.
Chris Wood, managing director at Barclaycard, says: “We are seeing demand from both retailers and customers for ever more convenient ways to pay and accept payment and believe that mobile and contactless technologies are key to meeting those needs. This announcement shows how, in partnership with Orange, Barclaycard is starting to make mobile contactless payments a step closer for UK consumers.”
Last year, O2 Money partnered with Natwest to launch two fee-free, pre-paid Visa cards. They were offered to O2 customers, who receive free texts after every transaction informing them of their balance.