Bank of Hawaii (BOH) has launched a contactless debit card to enable its customers to make touch-free payments for in-store purchases at retailers.
BOH is the first local bank in the country to roll out the contactless debit cards to the masses.
In the next few weeks, the new contactless cards will replace the existing debit cards with the customers, regardless of the expiration date.
The replaced contactless debit cards will have a new expiration date.
The card number will remain the same, however, the three-digit card verification value (CVV) number on the back of the card will be different.
The cardholders can use their existing PINs to transact.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataBOH is expected to complete the rollout by April this year.
Bank of Hawaii EVP of marketing division Ruth Erickson said: “Bank of Hawaii is pleased to be able to provide all of our debit card customers new contactless cards enabling them to safely, simply and securely make purchases utilizing touch-free technology.
“With safety and security being a priority for the bank, we believe it important to replace all of our customers’ cards as quickly as possible.”
To make touch-free payments, cardholders should look for the contactless symbol on the merchant point-of-sale (POS) terminal.
Then, they can either tap or wave the card near at or near the symbol to complete the payment.
Some of the local businesses including CVS/Longs Drugs, Costco and Target already have contactless-enabled terminals.
The bank claims that contactless payments offer the same encryption as one-time security code-based EMV chip payments.
The demand for contactless payments increased due to the Covid-19 pandemic, however, its trend began before the pandemic, the bank added.
In December last year, Thailand-based Kasikornbank (KBank) extended its partnership with smart card manufacturer dzcard to launch a new co-branded contactless debit card.
