Telekurs, Cornèr Bank and Visa launch contactless payment
In Zurich on Friday, October 19, 2007, Telekurs launched a new technology for the contactless paying of small amounts (contactless payment). Amounts up to 40 Swiss francs can be paid with this new technology without the entry of a PIN. To do so, the cardholder needs only to briefly hold his/her card in front of the reading device, and no longer must insert or swipe it. The system is based a wireless technology for short distances, a chip card and specially equipped cash register terminals.
The first transaction was conducted by former Swiss national football team member and TV sport commentator, Alain Sutter, at the headquarters of FIFA, a Visa partner. Mr. Sutter purchased a FIFA football using the card.

Telekurs will introduce contactless payment in Switzerland in the year 2008. “Contactless payment technology will revolutionize the way we pay for everyday transactions, such as fast food purchases, bus and train tickets and retail store shopping. These transactions will generally entail small amounts and require rapid handling," according to Hans-Martin Moser, CEO of Telekurs Multipay.

 

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