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Switzerland introduces first contactless debit card

January.07.2015 0 Comments

credit-card-newsThe first contactless debit card has been launched in Switzerland.

Swiss consumers have been able to use the original V PAY by Visa debit card since early 2014 (without contactless), with two of the country’s major banks offering it as part of their services. However a third bank, Hypothekarbank Lenzburg, has just made the card available to its customers, but this time with its own innovation added – it will be the first contactless payment card in the Swiss market.

The popularity of contactless around Europe seems to have caught the attention of the Swiss payments market, which is keen to benefit from its speed and convenience. In fact, their interest in the technology is so high that all Maestro cards have now been replaced with Visa contactless at Hypothekarbank, with customers still being able to make traditional payments with the card if they please.

However, there are still some businesses in the country that do not accept contactless payments, meaning that the usage of the cards may take some time to really take off. Yet, Hypothekarbank remain confident that its customers will appreciate the new service, with its marketing team commenting, “now that debit cards can be used to make contactless payments, they are certain to respond quickly. The initial feedback has been very positive.”