MasterCard will refuse to issue a “contact” card

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Next year, the payment system will start issuing only contactless cards in Ukraine

MasterCard will refuse to issue a “contact” card. Photo: cryptocoinspy.com

MasterCard payment system will start issuing only contactless cards in Ukraine. Hereby informed Finclub With reference to the Ukrainian office of the company.

The Ukrainian Office of Payment Systems said, “Starting in April 2021, Ukrainian banks will be able to issue new cards of the MasterCard payment system specifically with contactless technology.”

Recall that in April last year, the Visa payment system started issuing contactless cards only. As a result, in 2019, the number of contactless cards in circulation increased 1.2 times – from 3.95 million to 8.64 million, and their share in the Ukrainian market increased to 21%.

It has been reported that many banks have begun to refuse to issue “contact” cards independently. Therefore, in September 2019, PrivitBank started issuing cards with contactless chip modules, and by the end of the year OshdBank started doing the same.

At the same time, PrivatBank mentioned that 80% of customers are using devices with NFC functions that switch to smartphone payments. “Ending this trend, there is a 100% change in smart payments within two to three years,” the bank said.

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Earlier we wrote that more and more Europeans are sacrificing cash in favor of convenient and one-touch payments. Coronovirus played an important role in this. Therefore, according to a survey by MasterCard, nearly half of Europeans (42%) began using less cash during the COVID-19 epidemic, and 17% abandoned cash altogether. At the same time, about eight in ten payments with MasterCard cards in European countries are contactless (78%).

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