ABN AMRO has introduced a new contactless payments pilot program that allows its customers to pay for small amounts of up to EUR25. ABN AMRO said that the pilot program is to know whether contactless payments method will add value for consumers and retailers in providing efficiency and security, while also helping encourage electronic rather than cash payments.
The contactless payments are made without having to enter a PIN or swipe a card through a terminal, which uses Maestro PayPass technology developed by MasterCard, which may be incorporated into future ABN AMRO debit cards.
ABN AMRO started its pre-pilot on March 29 this year, and the first payments using a selected number of its debit cards have now been made. The successful pre-pilot and pilot stages will be followed by an internal pilot among ABN AMRO employees in autumn 2010.
Moreover, the results of the pilot will be used as input in the ongoing development of ABN AMRO debit cards.
ABN AMRO has added that the contactless payments may be an alternative to the Chipknip electronic cash system, which will in due course disappear as a result of the harmonization of the European payments market.