AIB Merchant Services(www.aibms.com), a merchant acquiring joint venture between First Data Corporation and Allied Irish Banks p.l.c., announced the launch of its first contactless payment terminal, enabling faster, convenient and secure transactions for merchants and customers in Ireland. The contactless payment terminal was activated in the Bord Gais Energy Theatre, in Dublin; together with live entertainment and eCommerce company Live Nation, Ireland.
Contactless payments enable cardholders to pay for everyday items up to the value of €15, simply by tapping their contactless-enabled card against a contactless-enabled point-of-sale terminal. The technology uses a wireless reader or screen, and near-field-communication (NFC) technology, to transfer the information required. A secure radio signal on the card’s chip is activated when it comes into close contact with the reader, initiating the transaction, which can then take place without the need for PIN entry.
Mike Adamson, Chief Executive Officer of Live Nation Ireland, part of the leading global live entertainment and eCommerce company Live Nation Entertainment said: “We are delighted to be involved in contactless payments. This will allow us to further enhance our customer service at peak times.”
Nigel Motyer, General Manager of AIBMS. said, “We have seen how contactless payments have worked in the UK and across Europe, in particular within fast food restaurants, convenience stores, cafes, bars and newsagents. The transaction takes place in a matter of seconds, so using a contactless card to buy a coffee, newspaper or sandwich is very convenient, saving the customer time and from carrying loose change. As Irish banks gear up to start issuing Visa and MasterCard debit cards with contactless functionality to replace the Laser debit card scheme, it’s important for AIB Merchant Services to be proactive in enabling its merchants to accept this new payment technology.”
Each contactless payment transaction is recorded on the customer’s card statement making it easy to track. Contactless transactions are subject to the same level of consumer protection as other transactions on payment cards.