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Erste Bank and Sparkassen Introduce Contactless Payments

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Vienna, Austria, June 10, 2016 -- Erste Bank und Sparkassen are making contactless payments possible without a traditional bank card or a smartphone. With the NFC wristband developed by the Sparkassen Group or the NFC-capable sticker, it is possible to pay via a Maestro transaction directly from one's bank account.

PIN codes and limits are the same for both products as for one's existing bank card and one can use them for payments worldwide. The same rules for payment sizes apply as well: no code is needed for payments of less than EUR 25, otherwise a PIN code has to be entered. The same security criteria that apply to traditional bank cards, also apply to these solutions.

Wristband and sticker can be purchased with immediate effect at George or with the CardControl App. The new NFC products can also be ordered at branch offices. They are sent through the postal service and have to be activated prior to first use, either online or via telephone at the Erste call centre. Both products are available Austria-wide exclusively at Erste Bank und Sparkassen.

Every third bank cash register in Austria is already NFC-capable, and by 2020 all terminals will also be equipped with this function. In future, cash machines themselves will be NFC-capable as well. Erste Bank has put the first functional NFC ATM into service at the Erste Campus in Vienna. This ATM can be used to for contactless withdrawals, but it always requires entering one's PIN code.

A mobile app for paying with one's smartphone is available from the Sparkassen Group as well. This requires an NFC-capable smartphone with Android software and an existing contract with A1, Drei, or T-Mobile. For this purpose one has to order an NFC-capable SIM card from one's service provider and order BankCardMobil via George or CardControl.

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Posted by Veronica Silva Cusi, news correspondent
Source: http://www.telecompaper.com

Date Posted: Monday, June 13, 2016



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