COULD THIS BE THE END OF CASH-IN-HAND? NEW CHIP AND PIN DEVICE FOR TRADESMEN IS LAUNCHED (BUT WILL ANYONE ACTUALLY BUY IT?)

• The small black device will allow people to pay for small jobs by card
• The new system, known as Zinc, is being launched by WorldPay
• The device links to a banking app that can be downloaded to smartphones

By Sean Poulter 27 June 2013

Job done: Tradesmen coming to do work in your house could soon be using a new chip and pin device to accept payment

Window cleaners, plumbers and other traders are to be armed with portable plastic card readers in a move that could do away with cash.
The small black devices allow people to pay for small jobs on the spot using a debit or credit card rather than raiding wallets, purses or piggy banks for cash.
The device links to a banking app that can be downloaded by the tradesman to their iPhone, iPad or Android smartphone.
The new system, known as Zinc, is being launched by the WorldPay organisation, which works alongside leading banks and card companies.
Hmmmm nothing strange about that ..... is there???? 
It is one of a number of companies, which also includes Payleven, that have developed similar devices to effectively replace cash for small value purchases.
It allows the likes of plumbers, electricians, window cleaners, market traders and mobile beauticians to accept card payments, removing the need to spend time chasing customers for payment and repeated trips to the bank to deposit cash.
The customer simply inserts the card, checks the total and taps in their four digit PIN to transfer the money.
Banks, retailers and traders are keen to get consumers to drop cash in favour of plastic because it is a much easier and cheaper way to handle and process payments.
However, the system is not free to use for traders, who will be charged a fee of 2.75 per cent of the value of the transaction to authorise each payment.

New tools: The new Zinc system is similar to the chip and pin system you find in shops (pictured) but is pocket sized

The small back devices can be bought by businesses and sole traders for £59.99 from John Lewis or ordered online.
Geraldine Wilson, the managing director of WorldPay Zinc, said: ‘We have been testing out the service for six months with over 3,000 small businesses, and the feedback has been very positive.

‘As consumers, we’ve all been in that awkward situation where you haven’t got enough cash on you to pay for something and card payment isn’t accepted. It’s embarrassing and frustrating.’
Interesting sales pitch.  
Behavioural Psychologist, Donna Dawson, said consumers are more likely to spend more if they use a card rather than cash. While they might be good for the business, many shoppers will view that as a disadvantage.
She said: ‘As a society, we are beginning to demand the ease and convenience of being ‘cashless’, interesting presumption and those service providers who do not keep up will lose out.
‘The most important reason for service providers to take heed is that using a card changes our fundamental shopping behaviour.
'Eighty seven per cent of us spend more on a card and, freed from the constraints of cash, we transform from ‘careful’ shoppers to more ‘impulsive’ and ‘extravagant’ ones.’ 
For more information www.worldpayzinc.com.

Read more: http://www.dailymail.co.uk/news/article-2349270/Could-end-cash-hand-New-Chip-PIN-device-tradesmen-launched-actually-buy-it.html#ixzz2YhL5yZ00

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