Hemisphere West Europe

The latest card industry news brought to you by Hemisphere West Europe

Visa Contactless Mandate

Way back in September last year Visa announced that they are establishing contactless acceptance as standard by 31st December for merchants accepting Visa in Europe. With ever growing use of contactless payments in the last couple of years and with the contactless limit rising to £30 per transaction, contactless is quickly becoming the major player in card payments. From the announcement in October 2014 there are two points that need to be heard.

Any terminals that already exist have until December 31st 2019 to offer the facility for the client to pay by contactless means.

As of 31st December 2015 any new deployments must offer the facility for the client to pay by contactless means.

I want to briefly touch on the benefits of offering contactless payment.

  • Quick & easy
  • Reduces cash dependency
  • Replaces low value transactions
  • Compact in size
  • Same security as EMV
  • Faster transactions
  • Mobile Payments
  • Queue Buster

Most important of all is the December 2015 deadline, effectively all new deployments of card payment terminals must offer NFC (Near Field Communication) Technology by 31st December 2015. With growing demand and advances in the technology this is a big move by Visa and one which will be welcomed by contactless/NFC users all over Europe. With the increasing number of contactless cards creates higher consumer awareness and more applications offering the facility to pay by contactless means . In addition it will replace cash being used for low value transactions as its fast and secure. Car parking tickets, vending machines, libraries, small shops, etc. and soon to be taxi fares will all be made easier using contactless.

However, the December 2019 deadline gives sufficient time for a terminal to run its life-cycle of around 5 years, but ultimately must be upgraded by the deadline date.

Introducing Mobile payments like ApplePay gives NFC technology a fresh look and entices consumers to adopt the technology. Mobile payments use the same technology as contactless cards and have the same high security as you would expect from a usual bank card. All major banks have accepted this and are overwhelmingly satisfied with the popularity and convenience of it.  Using biometrics (fingerprint) to complete any transaction it gives the consumer peace of mind knowing it will only accept their unique fingerprint via TouchID or alternatively a personal passcode can be entered.

For more information on the contactless mandate and the deadlines mentioned above please call HWE on 01793 780461 or alternatively visit our website: www.hweurope.com

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