ING and ABN Amro to issue MasterCrad PayPass contactless cards
31 October 2012 | 2137 views | 0
Dutch issuing banks ABN AMRO and ING will launch 'contactless' cards enabled with Maestro® PayPass™ in the Netherlands by mid 2013.
Maestro PayPass gives consumers faster and more convenient payment options while shopping, which benefits merchants by reducing checkout time. PayPass users are able to tap their cards against payment terminals allowing payment details to be exchanged safely and effectively within seconds. This movement paves the way to the introduction of contactless mobile payments in the Netherlands in 2013.
"Consumers and retailers really appreciate the speed and ease of contactless payments. There is a clear need for easy to use and efficient payment products", says Gijs Schreuder, Director of Consumer Payments at ABN AMRO. Today, despite the number of card payment options, 63% of all point of sale payments in the Netherlands is still conducted with cash. Arjan Bol, ING's Director of Payments, said: "We expect that with this quick and easy way to pay, consumers will be less likely to pay small ticket items with cash. This fits banks' and merchants' wish for safe and efficient payments."
MasterCard Benelux Manager, David Dechamps, said: "This is a unique development, with two banks simultaneously launching contactless payments in a country. Thanks to MasterCard's collaboration with two of the leading retail banks, Netherlands will become the largest PayPass debit card country in Europe. This is a great development for both consumers and merchants alike in the Netherlands.
ABN AMRO and ING have pointed out this is a significant development towards consumers being able to pay with their mobile phones in a similar way. The banks expect that by the second half of 2013, consumers will be able to pay with their smart phones at the cash register.
Contactless and Convenient
As of June 2012, MasterCard's PayPass is currently available in 41 countries around the world and PayPass has been deployed by over 100 issuers in countries including Australia, Belgium, Canada, Columbia, France, Germany, Italy, Japan, Korea, New Zealand, Poland, Singapore, South Africa, Spain, Taiwann, Turkey, the United Kingdom and the United States. In Europe, there are 22 PayPass-enabled countries and more than 1 million PayPass cards have been issued in the UK, France, Turkey, Poland, Italy and Germany. To date, Poland is the most advanced PayPass country in Europe with more than 10% of all MasterCard and Maestro transactions tapped. However, with the collaboration between MasterCard, ING and ABN AMRO, the Netherlands will have the largest PayPass debit card footprint in Europe, making transactions easier for consumers and retailers.