For everyday transactions, residents use contactless payment cards. 120,000 people in Latvia use them, Swedbank representatives declared.
Swedbank data shows – 80% of all payment cards renewed by clients are contactless cards. In total, there are more than 4,800 trade locations that offer transaction options for owners of contactless payment cards, and their number increases every day.
Since autumn 2016, the interest in new contactless payment cards has doubled – while there were only 7,000 of such cards issued last year, this year’s number reaches 15,000. The majority of contactless payment card owners are found among youngsters (47%). They most often use their payment cards for purchases under EUR 10.
“It is interesting that 15% of Swedbank’s senior clients have applied for contactless payment cards,” the bank notes.
Traders and bank employees continue informing clients about contactless card advantages. One advantage is using contactless payment cards for purchases under EUR 10 without having to put the card in the terminal. It is only necessary to put the card near the terminal and then put in the PIN code.
“Contactless payment card advantages are not limited to transactions at trade locations. One of the most important directions for the development of the contactless technology is payment for public transport services, which is a logical and popular transaction method around the world. The main advantage offered by this technology is that users have no need to purchase tickets or special cards. For example, it is already possible to purchase train tickets in Riga using contactless payment cards,” Swedbank notes.
The first contactless cards were issued by Swedbank in autumn 2016. (BNN/Business World Magazine)