UK Firm To Launch Contactless Prepaid Card In India

Published September 01, 2008, 1:00 a.m. EDT

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Updated September 01, 2008, 12:00 a.m. EDT

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United Kingdom-based Nucleus Ltd. reportedly will introduce its sQuid contactless payment card in India next year. Nucleus officials offered no immediate comment to CardLine Global. The sQuid card is a prepaid card to which consumers can add value online or at stores. "Contactless payments are a new trend in Indian card market," Prathima Rajan, an India-based analyst with United States-based Celent LLC, tells CardLine Global. "The earlier the entry, the better [chance] to tap the market." Rajan expects the card to appeal to young and working-class consumers.

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