Visa’s contactless cards enters the Hungarian market

Erste Bank introduces payWave-enabled cards of Visa on the domestic market. Thes Visa can compete with Mastercard for market shares on the domestic market, with this step. Visa Electron’s student credit card will be able to to carry out financial transactions at suitable terminals up to 2-3 centimeters away.

In Hungary Erste Bank’s Student Visa card will be the first card with contactless functionality, while MasterCard’s PayPass solution is available in Hungary for years. With the technology, the card owner can pay at any terminals where Visa payWave is displayed, without using the card. When the purchase occurs the amount will be displayed on the terminal’s screen it is enough to keep the card for a few moments in front of the display. If the payment has been successfully completed a sound and a flashing light indicates the succesful purchase. (portfolio.hu)