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Banks switch to no-swipe payment cards

Thursday 01 November 2012

Dutch banks ING and ABN Amro are switching to new bank cards next year which will allow their customers to pay for small items without having to swipe the cards.

Instead, users will hold the card next to the reader that will then write off the required amount without the use of a pincode.

Users will be able to make two or three contact-free payments of up to €25 in a day. After that, however, the card will need to be used in the traditional way. The cards will have all the same functions as a current bank card, with the addition of the swipe-free technology.

‘Consumers and shopkeepers value the ease and speed of this form of payment,’ ABN Amro’s Gijs Schreuder said in a statement. The new cards will be phased in from mid-2013.

Shops in the Netherlands are increasingly moving to a cash-free status. The Marqt organic food chain only accepts electronic payments and the Albert Heijn supermarket group is introducing bank card only tills.

© DutchNews.nl

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