BRAC Bank has announced the launch of Visa contactless credit cards for its customers to experience cashless payments, said a press release.
Cardholders can pay by simply ‘tapping’ their Visa contactless credit card at contactless POS terminals.
The bank said that the cardholders will now feel safer to transact as they get to keep the card with themselves while making a payment transaction.
The contactless Visa credit cards (Signature, Platinum, Gold, and Classic) come with NFC (Near Field Communication) technology, which spontaneously communicates with the contactless payment terminals (Contactless POS) and exchange the needed information to complete the transaction.
The bank’s retail banking division head, Md Mahiul Islam, said, ‘We are thrilled that we are enabling our cardholders to experience transactional efficiency while embracing the new normal in their digital lifestyle, and what excites us more is to be able to ensure their safety during this pandemic situation with the contactless feature.’
The bank said that these cards will be: i) faster, as the cardholder does not need to swipe or dip the card or enter the PIN, ii) safer, as the card remains in the cardholder’s hands while making a transaction, and iii) convenient, as the contactless cards are widely accepted across the world.
The maximum amount that can be transacted by tapping the contactless card is Tk 3,000.
However, cardholders can transact more than Tk 3,000 with these cards, if they wish to, by dipping or swiping the card and entering their PIN.
The transaction limit for contactless cards may differ subject to regulatory guidelines in countries and the terminal that will be used at the time of transaction.
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