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July 21, 2011

Contactless credit card launched in Austria

Raiffeisen Bank International (RBI) has joined forces with payment technology company SIX Card Solutions to launch the first contactless credit card in Austria.

By Verdict Staff

Raiffeisen Bank International (RBI) has joined forces with payment technology company SIX Card Solutions to launch the first contactless credit card in Austria.

The product uses MasterCard’s PayPass technology  which ensures all transactions are processed rapidly and securely through the use of encrypted wireless technology.

“We were able to set up this new product very easily on our modern processing platform,” said Luc Holper, vice president of  issuing at SIX Cards Solutions.

“We are pleased to have been of assistance to RBI with the issuing of the first contactless credit card in Austria.”

The dual-interface technology on the contactless credit card means secure payments are also possible for larger amounts and the chip and PIN functionality ensures the cards are compatible with ATM machines.

This venture follows the partnership’s launch of a prepaid card programme in Austria and Germany allowing cardholders to benefit from PIN selection, card design and secure payments on the internet.

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