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KBC customers embrace e-payments and debit card transactions.
KBC Bank Ireland has welcomed the Government’s e-Day initiative (Sept 19th), which encourages businesses and public sector organisations to convert from cheques to e-payments.
KBC’s Retail Banking strategy is fully aligned with the Government’s National Payments Plan. The Bank last year launched an innovative current account, which reflects how modern-day consumers want to bank, with free online, mobile and point of sale transactions, features to facilitate greater customer control, and sophisticated mobile and online technology. One year on, KBC customers have embraced the current account, becoming proficient in electronic payments and reducing bank fees by using their debit card more often than the market standard. A KBC customer conducts four debit card purchases for every one ATM transaction which is double the market average.
To help Irish consumers continue to move away from cash transactions, KBC launched contactless transactions in June of this year, the first bank in Ireland to offer contactless payments for both its Credit Card and Debit Cards.
The key objectives of the Government’s National Payments Plan are to reduce cheque usage in Ireland by 66% and double the number of e-Payments such as debit cards or electronic credit transfers by 2015, leading to a reduction in cash and cheque usage to the EU average.
Discussing e-Day, Edward Dillon, Head of Retail Products, KBC Bank Ireland said: “We welcome the e-Day initiative, which will help raise awareness around the advantages of banking electronically. Over the past two years KBC Bank Ireland has launched a range of new products, transforming KBC into a full service Retail Bank. Our new products are all designed to suit the way that the modern-day consumer wants to bank now, and will want to bank in the future.
“Our current account is fully aligned to the NPP objectives as we don’t issue cheque books or offer over the counter cash facilities, don’t charge for e-Payments or Card Payments and we provide free alternatives (Point of Sale Debit Card with Cash back and SEPA credit transfers) to transactions such as ATM withdrawal and cheque lodgement. Our customers have responded extremely positively by becoming proficient in e-transactions and keeping their costs down by purchasing more items with their debit cards and using point of sale for cash-back.”
In order to assist businesses to meet e-Day requirements, the NPP has set up a website www.jointheevolution.ie.