Payment at the checkout in seconds, without coins, without a code and nevertheless secure — this is being offered by Raiffeisen with MasterCard® PayPass™ in the next few days, for the first time in Austria. The new technology will further improve convenience at checkouts. «With this innovative payment system, the Raiffeisen Banking Group Austria is setting another sign on the Austrian card market», says the Spokesman of Raiffeisen Banking Group, Walter Rothensteiner. «Our customers will receive a card that offers an increased service, while being as secure as a conventional credit card.»
Raiffeisen once again proves that it takes a leading role in payment services. Raiffeisen is the first bank in Austria to introduce contactless payments by credit card. Through the MasterCard® PayPass™ technology, the payment process will become more rapid than conventional payment by card and signature and considerably faster than tedious handling of cash.
Contactless payment means that the customer holds his credit card over the terminal and the payment occurs directly, without the additional entry of a code or signature. For this new payment technology a microchip with an antenna in the credit card and a high-speed card reader are sufficient for a simple and secure payment process.
The security of the payment also has top priority for contactless payments. A major advantage for the customers is that they no longer need to let the card leave their hands, as they did previously for credit card payments. In most cases, it is even sufficient for only the wallet containing the card to be held directly over the card reader. Even if the card is moved near the card reader several times, it is ensured that only a single card transaction will occur. «Contactless payment is around 40 per cent faster than conventional payment using a credit card», cites Walter Rothensteiner from the latest studies.
The new technology not only saves time in making payments, but it also accelerates the settlements for the retail businesses. Contactless payment is particularly suitable for daily expenditures and payment processes requiring a high volume of cash. The network of acceptance points will be expanded during the coming months.
The cards will be issued by Raiffeisen Bank International (RBI). Customers can order the card directly from all Raiffeisen banks. RBI also offers the MasterCard® PayPass™ credit card through its own online product page. Interested customers can order cards from the beginning of August 2011 through Raiffeisen Bank International AG (www.r-card-service.at).
The start for the new technology occurred at selected locations of the SV Group, in staff restaurants with hobex payment systems terminals.
«We are particularly pleased to be one of the first caterers in Europe to offer our guests the MasterCard PayPass solution. With the MasterCard PayPass credit card, the payment process is carried out in seconds, without our customers needing to search for coins or swipe a card. Through the simple, convenient and secure handling, the processes at the checkout can be made even more efficient and the enjoyable experience for our guests becomes more of a focus. Therefore, MasterCard PayPass fits very well to us as a professional host», explains Stefan Zanini, Managing Director of the SV Group in Austria.
With the introduction, Raiffeisen is making use of a technology that has already been tried and tested in many countries. MasterCard PayPass is growing rapidly and is constantly gaining acceptance. Nearly 92 million PayPass-capable cards and devices are already in use worldwide at more than 310,000 contactless acceptance points.
The Raiffeisen Banking Group Austria (RBG) is one of the country’s strongest banking groups. With more than 2,200 branches, it has the densest network of banks in Austria and represents a good quarter of the entire domestic banking market.
For more information, please contac Gregor Bitschnau (+43-1-26216-1955, firstname.lastname@example.org).
About MasterCard Worldwide:
MasterCard Worldwide is one of the leading worldwide providers of payment services and contributes to making daily life quicker and more efficient. As a franchisor, processor and consultant in payment services, MasterCard is instrumental in making trade possible all over the world, as an important interface between banks, governments, companies, retailers and card holders. In 2009 alone, gross sales of 2.5 billion US dollars were generated with MasterCard products. Each year, 22 billion transactions are performed through the MasterCard Worldwide Network, the fastest payment processing system in the world. With this, MasterCard can process 140 million transactions per hour — with an average response time of 140 ms and 99.99% reliability. With the MasterCard product family, which includes MasterCard®, Maestro® and Cirrus®, the core products, credit cards, debit cards and prepaid cards, as well as innovative platforms and functions, such as the contactless MasterCard PayPass™ or MasterCard inControl™ payment system, MasterCard promotes global trade. The company collaborates with customers, governments and companies in more than 210 countries and regions. Further information is available at www.mastercard.com. Follow us on Twitter: @mastercardnews
About SV Group
SV Group, with its headquarters in Dubendorf, is active in business, care and event catering, hotel management and catering sectors in Switzerland, Germany and Austria. Since 1998, SV Group has been active in Austria and generated sales of EUR 20.5 million in 2009 with 351 employees.
As a professional service provider, the SV Group offers its customers total solutions for nutrition, health, wellbeing and hospitality and in all of its activities, aims for the highest possible quality, in line with its brand promise, «Passion for Quality». As a passionate host, we feed and inspire our guests each day anew and create enjoyable experiences in the hectic daily working life. Always satisfied guests — that is the claim of the SV Group.