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Azerbaijani banks introduce contactless cards

Azerbaijan Materials 11 June 2014 18:41 (UTC +04:00)

Baku, Azerbaijan, June 11

By Huseyn Valiyev - Trend:

Azerbaijani processing center Azericard is completely ready to issue and acquire the Visa payWave and MasterCard PayPass contactless cards.

The center told Trend on June 10 that the issuance of such cards is expected to start before late 2014, and many Azerbaijani banks will present these products.

The contactless payment technology of Visa International and MasterCard payment systems makes it possible to instantly pay for purchases and services via POS-terminals. The payWave and PayPass cardholders need just to wave their cards over the readers of the POS-terminals, supporting this technology.

The issuance of cards and installation of POS-terminals will be carried out by the banks.

The contactless cards can be used only for small payments, such as the payment at fast-food restaurants, and shops. The cards' cash limit will be set by banks. Large payments will require simple standard authentication.

It will be possible to use the payWave and PayPass cards at the trade destinations both in Azerbaijan and abroad.

The POS-terminals, supporting the payWawe and PayPass, have already been installed at a number of shopping destinations in Baku, the capital of Azerbaijan.

The terminals accepting contactless payments are marked with Visa payWave and MasterCard PayPass logos.

Edited by CN

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