BUSINESS IN SHORT

Contactless bank cards in Slovakia

CARDS with which Slovaks can pay by simply tapping the card on a point-of-sale terminal are now available in Slovakia.

CARDS with which Slovaks can pay by simply tapping the card on a point-of-sale terminal are now available in Slovakia.

After Poland, Slovakia is the second central European country, in which the so-called contactless payment system Paypass cards can be used. Representatives of MasterCard introduced the system in Slovakia on July 31, the financial daily Hospodárske Noviny wrote.

For now only Volksbank Slovensko clients who have subscribed to the service package Euro26, can use the new technology. The bank plans to expand the list of clients for the new system in October.

Ján Čarný, director of MasterCard Europe for the Czech Republic, Slovakia and Ukraine assumes that other banks will join Volksbank shortly. Čarný believes that a Bratislava city card, whose launch is in the pipeline, would give motivation for them to do so.

The biggest advantage of this contactless payment card is its high transaction speed.


With contactless cards, Slovak clients can make payments up to Sk600 (€20) without entering a password or signing.

The chip of the contactless technology can be installed on the credit card, a mobile phone, a watch or a key chain.


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