HSBC Bank Malta, a subsidiary of London-based HSBC, has rolled out a payments card featuring contactless functionality in the country.
The contactless card will enable the bank’s customer to execute payments quickly and conveniently by just waving their contactless card on a POS terminal both locally and globally.
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At the outset, the new solution will be provided to HSBC Premier Credit cardholders before the service is extended to other customers in 2018.
Featuring latest security technology from Mastercard, the new contactless cards will have a limit of €25 per transaction.
Similar to chip and PIN-enabled cards, the new card provides protection against fraudulent transactions. As an added security measure, the cardholders will be required to enter their PIN from time to time to confirm their identity.
HSBC Malta head of retail banking and wealth management Daniel Robinson said: “I am delighted we are the first major bank to launch contactless cards here in Malta.
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By GlobalData“I expect contactless payments to grow rapidly across the country as people realise they are more convenient and secure than using cash.”
