Via the contactless technology, cardholders will be able to pay for goods of up to EUR 25 with no need to enter a PIN or sign the payment slip, whereas for larger amounts the transaction may still be contactless but the cardholder will need to either enter a PIN or sign the slip. The same card (based on dual interface technology) also features a magnetic stripe and an embedded chip so that it can also be used on all the standard card acceptance devices (eftPOS terminals and ATMs).
For this project Mellon Technologies cooperated with security provider Gemalto who has already delivered more than 200 million dual interface contactless cards globally and which Mellon represents for over 15 years.
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