1979 2007
Visa debuts POS terminals
Although credit was steadily becoming more accessible to consumers , processing times were still excessively long owing to pre-digital technology .
Barclaycard issues contactless payment cards
Bringing convenience a step into the future , Barclaycard ’ s contactless cards negated the need to input a PIN for each transaction .
Visa changed that with the invention of electronic POS terminals . Although large and unwieldy in construction , these devices instigated a revolution in transaction speed that is still accelerating today .
The implications of this innovation are still being explored today . From apps to wristwatches , contactless payments have rapidly become a consumer favourite . The technology particularly realised its potential during the COVID-19 pandemic , which made minimising physical contact a priority .