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.