Mellon Technologies announced the implementation of a large-scale contactless EMV project in Greece, initiated together with financial institution, Eurobank.
Already, the first contactless credit cards are available for the bank’s customers, enabling cardholders to pay for goods of up to €25 (~ USD $30) without the requirement to enter a PIN and/or provide a signature.
The same card, based on dual interface technology, also features a magnetic stripe and an embedded chip so that it can also be used on all the standard card acceptance devices – eftPOS terminals and ATMs.
For consumers, this means greater convenience and speed for their purchases, as well as less queuing time. For merchants, the acceptance of contactless cards for small-value purchases will significantly increase security as it minimizes the need of keeping cash at the till.
For this project Mellon Technologies worked with Gemalto who has already delivered more than 200 million dual interface contactless cards globally and which Mellon represents for over 15 years.