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4 Million MasterCard paypass cards in 2013 for Austria
by NFC Admin, Mittwoch, 23 Januar 2013
Today Rainer Schamberger, CEO of Austrias largest card issuing supporter Payment Services Austria (PSA), announced the rollout of 4 Million contactless debit cards. The cards are based on MasterCard Maestro Scheme using MasterCard paypass for contactless transactions.
All debitcards, which are issued in Austria this year, will include this paypass feature. Paypass allows the customers to make low value transaction (below 25 EUR) without a PIN. Customers of all banks in Austria will receive cards with NFC. Besides Paypass the cards also feature the contactless version of Quick. In case a customer does not want to have the contactless feature he either gets as non-NFC card or the NFC feature of the card is disabled at the POS. Although the cards are slightly more expensive to produce, the banks will not raise the online casino canada fees for the cards issued.
Also the terminal side is changing at the moment. Austria’s 2nd largest Retailer Spar changed its acquirer to Card Complete and is rolling out contactless Terminals from Ingenico (although the NFC feature is not yet active on the terminals). Austria“s largest acquirer PayLife announced to rollout its contactless payment terminals for Visa Paywave and Mastercard Paypass in Q2/2012.
A word on security: for payments below 25 EURs no pin is required. In case a card is lost, the thief can make 5 contactless transactions up to 25 EURs without requiring a PIN. After the 5th transaction a contactful transaction with PIN is required. Of course, the banks will take over the risk for this amount (125 EUR). Thus there is no implication of the customer.
Also there is no money stored on a debit card. And, although the information on the chip is not encrypted, the transaction itself is fully secured thru a cryptogram using a key with is unique for each card. So faking a transaction is not possible for the current point of view.
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