MasterCard and Royal Bank of Scotland (RBS) would be conducting trials of an RFID based contactless debit card which would replace cash for low value payments. The trials of the Oyster Card style payment system would start next week at the head office campus of Royal Bank of Scotland in Edinburgh.

As of now around one thousand employees have applied for one of the specially adapted Maestro chip and PIN debit cards. An aerial in the card would transmit the data to the reader at the retail store and the staff participating in the project would have to wave their debit card against the reader when they pay for the goods instead of entering a PIN number or signing a receipt.

It is expected to eliminate the need for keeping change in your pocket and move towards what we call a "cashless society".