Abstract: This chapter focuses on the use of payment cards in commercial transactions. Contactless cards are becoming increasing popular and account for 49 per cent of all cards in issue. Contactless payment is made through the tap of a card on (or by waiving it over) a reader, without requiring a personal identification number or signature. With the increased availability of mobile payment technology, contactless payments are likely to shift from cards to smartphones. This chapter begins with a discussion of the main types of payment card in general circulation in the UK, including credit (and charge) cards, debit cards, and ATM cards. It then considers contractual networks and the regulation of contractual relationships, along with liability for unauthorised transactions under the Consumer Credit Act 1974 (CCA) and Payment Services Regulations 2009. It also describes connected lender liability under CCA.
Publication Year: 2017
Publication Date: 2017-04-27
Language: en
Type: book-chapter
Indexed In: ['crossref']
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