Contactless payment is gaining ground worldwide. It means that payments at the checkout stand are not only becoming easier for customers and merchants, but also faster and safer than payments made with cash.
To support financial institutions with the issuing of contactless cards, Cetrel, SIX Card Solutions' competence center for credit card processing, provides a flexible and technologically innovative platform throughout Europe. Starting today, Raiffeisen Bank International (RBI) is also using this solution and with support by SIX Card Solutions is bringing the first contactless credit card to Austria.
SIX Card Solutions has previously developed a prepaid card program in Austria and Germany for Raiffeisen Bank International (RBI). This innovative solution enables cardholders to profit from special functions, including PIN selection, personal card design, secure paying on the Internet and balance inquiries per SMS. RBI also uses the SIX Card Solutions system to issue credit cards in Austria, such as credit cards with a miles function for Air Berlin & NIKI.
The successful partnership between SIX Card Solutions and Raiffeisen Bank International in Austria has also been strengthened by the ongoing introduction of contactless credit cards: "We were able to set up this new product very easily on our modern processing platform. We are pleased to have been of assistance to RBI with the issuing of the first contactless credit card in Austria," stated Luc Holper, Vice President Issuing. By using MasterCard PaypassTM technology, the payment of small transaction amounts can be handled more smoothly and rapidly than with cash money. The necessary security in the process is ensured through use of encrypted wireless technology. Another advantage of a contactless credit card is that it need never leave its holder's hand at any point during the payment process. The use of dual-interface technology means that secure payments are also possible for higher amounts as well as ATM withdrawals with chip and PIN.
This means that the cards can also be used at all terminals that are not yet equipped for contactless payment.