- Potential for contactless payments becomes mandatory
- exceet offers all approved processes from a single source in Germany
By December 31, 2016 at the latest, all Visa credit cards issued from this date onwards must fulfill the latest requirements for use at the POS (point of sale). There are exceptions for a few special cases. In Germany, however, all Visa cards used at the POS are expected to fall under the new regulations. As a certified Visa partner, exceet works closely with the regulatory bodies and is happy to explain to customers on request which of the requirements apply to their individual case.
Protection of contactless cards from unauthorized access
exceet offers customers a range of card technologies to implement the new requirements. Credit cards can also be delivered to the user with transport protection if required. This protects cards featuring contactless technology from unauthorized access until they are used for the first time by the cardholder.
Trend for contactless payments continues
"We have been developing various technologies for contactless credit card payments for years now and we therefore have extensive expertise in the different processes," said Frank Ludwig, Banking & Health Segment Manager at the exceet Card Group. "We also work in close cooperation with the German banking industry, which means that our customers can benefit from the very latest solutions." The increasing number of retail transactions using dual interface technology is proof that the contactless use of credit cards is attractive to market players. VISA credit cards currently have a market share of 44% in Europe. According to the EHI Retail Institute, this share is likely to increase still further over the next few years thanks to the switch to dual interface cards. Those credit institutions that made an early move towards contactless payments and offer their customers the latest types of credit cards also benefit substantially from this trend.
Background: Dual interface chip cards
Dual interface cards have an embedded chip that allows the card to be used in both contact and contactless transactions. This means they offer considerably more flexibility and a better performance than regular chip cards.
At this year's RFID conference, which will take place in Düsseldorf on September 28 and 29, 2015, exceet will be presenting the latest mobile payment solutions and reporting on trends such as Apple Pay and innovative projects for urban services (smart city solutions) based on multi-functional cards – contactless of course. If you are interested, you can also find out about the current Visa card requirements at the exceet stand.
exceet will be at the RFID conference in Düsseldorf on September 28 and 29, 2015
exceet lectures on September 29, 2015 on: "NFC and RFID for payment solutions" and "Smart city solutions"