Monday - Sep 25, 2017

Fast food for the business traveller just got faster

Fast food for the business traveller just got faster

McDonald’s the fast food giant just got even faster with their latest announcement that they now have the technology that will allow them to process an order for one of their famous Big Mac’s in just half a second. While a Big Mac may not be everybody’s cup of tea, its more the speed of transaction than the culinary and health given attributes of this cholesterol time bomb that has captured the attention of the global business community, for whom every second waiting in a queue to pay for food, or anything else for that matter, is a second wasted.

The technology behind this time saving revelation is a new contactless swipe card that will allow for transactions of up to £15.00 to be made without the time consuming and labour intensive practice of entering a PIN number. If the bill exceeds £15.00 then a signature is required, but there is no need to physically present the card. The new ‘contactless’ technology only requires cardholders to wave their cards in front of a scanner that will read information contained in a minute chip embedded in the card. The advantages of this technology will mean that gradually the necessity to carry coins will be phased out, and even the most minor transaction will be paid for using credit cards.

McDonalds see themselves as the ideal medium for this new form of speedy transaction and have proved the point by investing well over one million pounds so that each one of their 1,200 UK outlets will install the hardware that will allow them to go cashless.

A company spokesman said that they foresee that the cost savings in processing transactions coupled with the improved service will more than justify the investment.

Financial strategists in the UK see McDonalds decision as being significant and may well indicate the point where contactless payments finally gained credibility in the low value financial transaction sphere.

Imagine the advantages for the business traveller and the time saved as they make their way across the UK on business. At the moment, there is no international PIN less credit cards, but if the idea catches on as it should it must only be a matter of time till they begin to pop up. In the meantime most of the World’s developed nations have issued local cards, all working roughly on the same principal.

Currently there are more than twelve million cards in circulation in the UK with estimates that the demand will reach double that number by next year.

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