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Irish consumers continue to move away from cash transactions.
KBC Bank Ireland has launched contactless transactions for its customers, making it the first bank in Ireland to offer contactless payments for both its Credit Card and Debit Cards. The new contactless Debit Card, provided by MasterCard, is available to all new and existing customers who open a KBC Current Account and Credit Card customers.
Contactless functionality is more efficient means to pay for smaller, everyday items in retail outlets that carry the contactless symbol. It allows customers to pay for items under €15 with a simple tap of their card at point of sale terminals - 30% of transactions carried out by KBC customers are valued at €15 or less. In addition to the speed of payment, customers benefit from the reduced need to carry notes and coins and retailers also gain through more efficient queues.
Contactless transactions are free of charge for KBC customers, who also benefit from free point of sale transactions, including CashBack, and from MasterCard’s SecureCode, which provides enhanced protection from unauthorised use of their card online. KBC Bank Ireland was awarded the Best Debit Card UK-Ireland 2014 by the Cards & Payments Awards.
Commenting today, Dara Deering, Executive Director and Head of Retail Banking, KBC Bank Ireland said, “Irish consumers continue to move away from cash transactions and we are now the first bank in Ireland to offer contactless features on both Credit and Debit Cards. KBC is committed to offering customers a real alternative in daily banking in Ireland and contactless functionality means customers can now pay for goods in a more convenient manner, with no transaction fees.
“Our customers are savvy in keeping transaction fees to a minimum by the way they bank, conducting multiple Debit Card purchases for every one ATM transaction performed. Contactless transactions is yet another way that our customers can keep their banking charges to a minimum and I have no doubt, with more and more retailers adopting the technology, it will be a popular feature for our current account customers.”