RANGERS fans will be unable to pay for season tickets by debit or credit card after the company which processes the payments demanded security over Ibrox in return for handling fans' cash this summer.

Chief executive Graham Wallace has claimed "negative coverage" of calls for supporters to withhold their money is behind the decision.

The Union of Fans has backed a plan by ex-director Dave King to pool season-ticket cash, which would be handed to the club once Ibrox and Murray Park have been given to fans.

Wallace said: "The credit/debit card issue is one that is really unfortunate.

"The merchant provider who handles that transaction for us took a view - based on everything that has been going on in the external media - that the club could be at risk.

"In order to mitigate their risk they said: 'Well, we're happy to carry on processing your transactions but we would like you to give us security over Ibrox' and have categorically said that we will never give security over Ibrox.

"So for me that's a non-runner. It's not a particulary satisfactory position to be in and I apolgise to all our season-ticket holders for the inconvenience it will cause. We are extending the renewal window to give people time to make their own decisions.

"I think a lot of season-ticket holders have been waiting to hear what we were going to say today. They were looking for a sense of comfort on the existing operations but I think also a sense of what it is we are going to try to do going forward.

"As I look at that, granting security over Ibrox to facilitate credit and debit card payments is not something that's in the best interests of Rangers Football Club."