Banks, Estonia, Financial Services, Technology

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 15:13

Estonia`s LHV to start issuing contactless bankcards in August

BC, Tallinn, 09.08.2016.Print version
LHV is to issue contactless bankcards in Estonia at the end of August using near field communication (NFC) technolog, informs LETA/BNS.

"The bankcards with the new technology can be used to pay for purchases of up to 10 euros without entering a bankcard into the payment terminal and entering the PIN code. It will make small purchases more convenient and save time spent on paying," it is written in a letter sent to LHV customers.


Monthly fee for the service will be 1 euro for private persons and 2 euros for business customers. Customers who are younger than 26 would not have to pay for the service.


At the beginning of June Swedbank was the first financial institution in Estonia to announce that it would start to issue the first contactless bankcards in August.

 






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