Saturday, May 28, 2016

Will shoppers soon be able to tap and go?

The technology first appeared more than a decade ago and shoppers on the continent have been using it for years.  Now Maltese consumers are one step closer to being able to just tap and pay using their bank cards, with Global Payments announcing last week that they have obtained the necessary certification from both Visa and Mastercard.  But although the technology is now certified, Malta's two major consumer banks have remained tight-lipped about their plans to introduce contactless cards.  Contactless payment technology allows consumers to make small purchases using their bank cards without having to swipe, sign or type in their PIN. Users simply tap their cards on a payment terminal and head on their way.  "Cash gave way to card and the magnetic stripe on the card made way for the chip. Now, the chip is being overtaken by the antenna built inside the card," said Stephen Teuma Country Manager, Global Payments Malta. Global Payments will now start offering local retailers updated point-of-sale terminals equipped with contactless technology. All terminals must be updated by the end of 2019, according to a deadline set by Visa and Mastercard.  Shoppers would only be able to make...

from timesofmalta.com http://ift.tt/1UbJRQC
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