A new product incorporating features from both debit and credit cards is being readied by Visa and HSBC.
The card, which lets customers decide whether to make payments via their bank or credit card account when they pay for goods, has been given to 100 employees of both firms to use for six months.
At the outset, customers decide which function the card will primarily be used for and this choice will be reflected in the product's embossed number and security code.
Both debit and credit card services will be accessed through a single PIN, increasing user convenience.
David Robson, head of proposition development at HSBC, said: "We will be assessing the cardholder experience throughout the pilot and we believe our customers will welcome the flexibility offered with this card."
Mariano Dima, head of marketing at Visa Europe, added: "This pilot will allow us to validate the cardholder experience and is a first step towards the commercial issuance of multi-application cards in the UK."
The service could offer a new breakthrough for the credit card sector, following the increasing adoption of contactless technology.
Credit cards which can make instant payments through being touched on a reader, without requiring the customer to enter their PIN, are already offered to the UK market by Visa, MasterCard and American Express.
The card, which lets customers decide whether to make payments via their bank or credit card account when they pay for goods, has been given to 100 employees of both firms to use for six months.
At the outset, customers decide which function the card will primarily be used for and this choice will be reflected in the product's embossed number and security code.
Both debit and credit card services will be accessed through a single PIN, increasing user convenience.
David Robson, head of proposition development at HSBC, said: "We will be assessing the cardholder experience throughout the pilot and we believe our customers will welcome the flexibility offered with this card."
Mariano Dima, head of marketing at Visa Europe, added: "This pilot will allow us to validate the cardholder experience and is a first step towards the commercial issuance of multi-application cards in the UK."
The service could offer a new breakthrough for the credit card sector, following the increasing adoption of contactless technology.
Credit cards which can make instant payments through being touched on a reader, without requiring the customer to enter their PIN, are already offered to the UK market by Visa, MasterCard and American Express.
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