PayPass available in Slovakia

MasterCard says it is now possible to use payment cards that allow purchases to be made without the wait involved in contacting the issuing bank for confirmation in Slovakia, according to MasterCard Europe director for the Czech Republic, Jan Carny.

The first bank to roll-out PayPass technology in Slovakia is Volksbank Slovensko. It is expected that all the remaining banks in Slovakia will be using the technology in due course, says Carny.

In the first phase, the contactless payment card is meant for Volksbank's clients between 18-26 years of age. As of Q3 2008, the service will also be made available to remaining clients, says Kurt Kapeller, CEO, Volksbank Slovensko.

Apart from contactless payments, the card will be able to be used for usual payments at POS terminals and withdrawals from cash machines. The limit set for contactless payments will be €20 (Sk602.52).

The main advantage of the card is faster transactions. "We wanted to put the card in places where small sums are being paid, such as parking lots, city transportation systems or fast-food outlets," continues Carny.

Security measures for contactless transactions are being guaranteed by MasterCard at least at the same level as ordinary chip smart-cards of the new generation.