07 February 2016

Austrian banks upgrade terminal estate for contactless/NFC future

14 November 2012  |  4497 views  |  0 mastercard contactless payment 1

Austrian bank-backed PayLife has contracted with VeriFone to update its entire POS estate to support contactless and NFC-based transactions.

A joint venture of major Austrian banks, PayLife provides card acceptance services to companies across the retail environment, the oil industry and the tourism and service sectors.

PayLife plans "over time" to replace existing installed payment systems with new wireless and PIN acceptance devices. The firms says it will also utilise several thousand VeriFone QX 1000 devices to provide immediate NFC/contactless in-place upgrades of existing devices.

As well as upgrading for contactless and NFC payments, the new VeriFone kit also offers compliance with the latest PCI PTS 3.0, ZKA, EMV and Austrian security requirements.

Robert Komatz, senior vice president of PayLife Bank, says: "VeriFone's innovative, consumer-friendly payment solutions will meet our needs today and in future as we adapt to the fast evolving new era of NFC payments, including the very successful Austrian electronic purse, Quick."

The Quick chip card, which is used in smaller retail outlets for payments of less than EUR400, currently claims 8.5 million users across Austria.

Adam Biedrzycki, VeriFone vice president and general manager, Central Europe, says: "VeriFone systems will accommodate all the card types currently accepted today by PayLife and the mobile, digital wallets of tomorrow."

The value of the contract has not been disclosed.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

09 October, 2012
04 October, 2012
24 August, 2012
24 May, 2012
08 May, 2012
18 April, 2012
27 January, 2012

Related company news


Top topics

Most viewed Most shared
Fintech rising: Resistance is futile, says...
10116 views comments | 47 tweets | 39 linkedin
Digital transformation driving earnings at...
8750 views comments | 42 tweets | 35 linkedin
ECB eyes up European P2P payments
7626 views comments | 28 tweets | 38 linkedin
Visa opens up to developers
6924 views comments | 23 tweets | 40 linkedin
It may take ten years, but blockchain tech...
6021 views comments | 20 tweets | 19 linkedin

Featured job

Find your next job