The Bank of Ireland has announced the release of a new form of Visa debit card that is contactless, so that the consumer may make small purchases in “less than a second” by simply holding their cards over the reading device.
The near-field communications (NFC) enabled cards can be used for purchases of €15 or less in a contactless transaction which functions with the user’s account at the Bank of Ireland. The same security protection that is available on all Visa cards also applies to the use of these cards. Moreover, an additional security measure will be implemented where, if the card’s use reaches a certain total, or if it is used a designated number of times, the customer will then be required to input his or her PIN using a keypad before the purchase can be completed.
Retailers, vending machines, busses, trains, and parking will all have this technology available, according to the Bank of Ireland, and they will display a symbol that will indicate to users that the contactless technology is supported at a given point of sale.
The Bank of Ireland hopes that the use of this technology will shorten lineups and waiting time and will help to encourage Irish consumers to adopt NFC technology as a commonly accepted way to make payments.
According to the head of consumer segments, Quentin Teggin, at the Bank of Ireland, NFC technology is already being used by 20 million cards that are in circulation throughout Europe, and the bank is “delighted to be the first in Ireland to issue Visa debit cards with contactless payment capability.”