SDM-Bank implements Visa payWave proximity payment technology
Starting in May 2014 all SDM-Bank acquiring customers can use Visa payWave proximity payment technology enabling to process payments using VISA International contactless banking cards.
The technology makes card payments faster and better convenient. All the customer needs to do to make a payment is to pass the card close to the POS terminal. Transactions conducted through VISA payWave are processed same way as regular transactions.
It is important to note that Visa payWave transactions are highly secured, since the cardholder always keeps the card in their hands, and therefore retains full control over the payment process. Besides, each operation has a unique 128-bit encryption.
«Contactless technologies are really gaining ground. And we try to keep up on being a highly technological bank and providing best up-to-date solutions to our customers» - says Denis Davydov, SDM-Bank Retail Business Officer.
SDM-Bank is working on implementing the MasterCard PayPass system as well.