Britain’s biggest credit card issuer Barclaycard has warned that it could face a total of £1.5bn of bad debt this year, as its customers’ financial difficulties increase.
A new pre-pay ‘credit’ card has been launched by UK company Prepay Technologies, aimed at providing a payment card to those who can’t get a normal credit or debit card because of their credit history or finances.
Cardholders are being warned to be vigilant when checking their account balances after Lloyds TSB said that credit card fraud was being increasingly driven overseas by the success of chip and pin.
Petrol giant Shell has suspended the use of chip and pin for payment at its 600 UK garages, following the discovery of a £1m fraud ring.