First Data Corporation, a global leader in electronic commerce and payment processing, has expanded its cooperation with Raiffeisen Bank Poland, one of the leading banks in the country.
First Data's Polish business will provide card payment processing services to support the bank with its implementation of a new contactless card programme.
First Data and Raiffeisen Bank Poland have cooperated for over ten years, during which time First Data has delivered a comprehensive range of outsourcing services for issuing and processing of debit, charge and credit cards. Raiffeisen Bank's current customer offering will be expanded to include contactless payments functionality with the introduction of Visa payWave payment cards which are embedded with an antenna and microchip.
The cards can be used by cardholders to make quick low-value cashless payments at thousands of merchant locations across Poland and all over the world. Cardholders simply place the card near a special terminal equipped with a contactless card reader to initiate the transaction. The transaction is executed in a split second.
"Our aim is to understand the needs of our customers and offer innovative cashless payment solutions to meet these needs," said Andrzej Swiech, director of the Individual Clients Department, Raiffeisen Bank Poland. "Issuing cards, equipped with contactless technology, in cooperation with a trusted provider such as First Data, will enable us to achieve our objective. The addition of Visa payWave cards to our portfolio will also enable us to offer a safe, convenient product to our customers and will strengthen our position as a modern financial institution."
"The number of merchants offering the convenience of contactless cashless payments, which forgo PIN entry, is gradually increasing," said Grzegorz Dlugosz, a member of the board at First Data's business in Poland. "Thanks to this ability to reach new market segments, which previously did not accept cashless payments, contactless cards are becoming increasingly popular in Poland and are another step toward replacing cash payments with payments made using cards."