We knew this was coming, but it's now officially announced as Orange and Barclaycard's plan to team up on a joint contactless credit card has come to fruition with the launch of the Orange credit card.

Consumers should note, however, that while Barclays own contactless scheme has since been extended to debit cards, this is strictly a credit card - with the high charges to match.

If you want to wave-and-pay with the Orange Credit Card you'll be looking at 18.9% APR on purchases and 29.9% APR on cash advances, so make sure you get those monthly charges settled if you don't want the interest racking up.

Financial advice aside, those opting for the new plastic can enjoy fast purchases of £10 and under using contactless technology, automated SMS alerts to keep a tab on spending, and customer-set spending limits.

In addition, there's a reward scheme attached to the card with customers earning one "Orange Credit Card reward point" for every £1 spent, which can be swapped in for vouchers for the likes of Marks & Spencer and HMV, as well as on Orange products and services.

There's more info about the Orange credit card over at www.orangecreditcard.co.uk