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April 25, 2019

KeyBank introduces contactless credit and debit cards

US-based KeyBank has launched contactless credit and debit cards in collaboration with Mastercard and FIS.

Now in issuance, KeyBank Mastercard contactless credit and debit cards enable customers to make secure in-store purchases with a single tap.

Furthermore, the card uses latest contactless chip technology for ‘tap and go’ payments at POS terminals.

To provide users with EMV security, the contactless chip technology creates a unique code for every transaction.

KeyBank head of enterprise payments Ken Gavrity said: “The KeyBank Mastercard contactless cards demonstrate our commitment to investing in seamless experiences for our customers through increased, intelligent accessibility.

“We know that consumers value convenience and speed, and our new contactless cards make everyday purchases quick and simple, with the confidence that transactions are secure. We’re thrilled to offer our customers this easy-to-use and safe way to pay.”

The launch of the new cards is part of KeyBank’s strategy to meet the growing demand for contactless cards in the US.

According to Mastercard, adoption of ‘tap and go’ cards is growing considerably in communities across the US, with more than half of all card-present transactions taking place at contactless-enabled locations.

Mastercard president for US issuers, North America, Raj Seshadri said: “From transit tickets, to morning coffees, people want to go about their every-day life with ease and complete peace of mind, and with contactless, we aim to make transactions quicker, safer and seamless to better fit our customers’ lifestyles.”

Headquartered in Ohio, KeyBank had approximately $139.6bn in assets at the end of last year. It offers financial services such as lending, cash management, investment and deposit services in 15 states.

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