Baku, Finance Time. AtaBank OJSC implemented new POS-terminals with contactless payments options Visa Pay Wave in its partner network.

With the new equipment installed in the 132 points, consumers will be able to pay purchases quickly and safely as via traditional payment cards with a magnetic strip or the chip so withcontactless cards Visa payWave.

Mr. Elnur Osmanov, Executive Director – Member of the Board announced that

Information about Visa pay Wave technology

Visa payWave contactless payments technology is one of the most dynamically developing payment technologies. Its use offers a number of advantages as to consumers, so to the trade and service enterprises, among which – speed, convenience and safety.

The Visa payWave technology allows to make payments almost instantly in all points equipped with contactless readers. Thus the card doesn't need to be "rolled" or inserted into the POS-terminal and for transactions up to 20 manats to undersign on the check or to enter a PIN code. To define whether the point accepts contactless payments via Visa payWave cards, it is necessary to be convinced that on the payment terminal and on the screen of the terminal there is a symbol of contactless payments. The Visa payWave cards meet high standards of safety of Visa due to existence of the encrypted code which is transferred together with information on payment and is unique for each transaction.Besides that, during the payment cardholder independently brings the card to the contactless terminal, without giving it to  employee of an outlet.

In addition to payment cards, the Visa payWave technology can be realized also on the mobile phones supporting contactless payments. Payments via smartphones is possible on POS-terminals with contactless payment options Visa payWave.

Implementation of the contactless payments Visa payWave allows the trade and service enterprises to accelerate payment process and to increase quality of customer service, to reduce cues in a trade floor and to increase a client stream.

AtaBank OJSC is the Associate Member of Visa International since 2004. Being the largest bank-acquirer in Azerbaijan AtaBank will gradually activate contactless payments throughout its POS-terminals network.

Number of cardsissuedbyAtaBankisalmost 26 000. Bank has 80 ATMs and morethan 18 000 POS-terminals.

For detailed information about Visa products of AtaBank OJSC visit the official website www.atabank.comorthebank’sofficial page www.facebook.com/AtaBank.