Swed­bank: res­i­dents are pre­pared for in­creased non-con­tact cards lim­its

Baltic News Network - - News -

Since sum­mer last year, Swed­bank com­menced issuing non-con­tact pay­ment cards in Latvia. The bank’s data shows that 150,000 clients use ad­van­tages of such cards every day. Cur­rently 82% of new Swed­bank cards or­dered on the in­ter­net have non-con­tact func­tion­al­ity. Every month, res­i­dents per­form around 300,000 non-con­tact trans­ac­tions.

Swed­bank rep­re­sen­ta­tives say that thanks to se­cure and quick ev­ery­day trans­ac­tions, most res­i­dents are pre­pared to spend more money us­ing non-con­tact trans­ac­tions. EUR 10 is the cur­rent limit for non-con­tact cards in Latvia and the low­est one in Europe. 60% of Lat­vian res­i­dents would spend amounts larger than EUR 10 us­ing non-con­tact cards. For ex­am­ple, 34% of in­ter­viewed res­i­dents would be pre­pared to make pur­chases up to EUR 20, 23% – up to EUR 30, 4% – up to EUR 40, and 17% – up to EUR 50.

«This is still only the be­gin­ning, be­cause we have no­ticed that most re­tail­ers are not in a hurry to per­form the nec­es­sary im­prove­ments to ser­vice non-con­tact trans­ac­tions, which makes ev­ery­day trans­ac­tions harder for them­selves and their clients. This is why we in­vite every per­son in need of quick and ef­fi­cient trans­ac­tion pro­cess­ing so­lu­tions to turn to their bank to find out if they of­fer non-con­tact trans­ac­tions,» says Swed­bank board mem­ber Re­nars Ru­sis. Bank rep­re­sen­ta­tives also say that the av­er­age non-con­tact trans­ac­tion amount has grown twice this year, when com­pared with the same pe­riod last year. This is why in­creas­ing the limit to EUR 20 would speed up the ap­pear­ance of larger pur­chases. Get­ting lunch (55%), pub­lic trans­port costs (46%) and small pur­chase (43%) are the most com­mon sit­u­a­tions in which res­i­dents tend to spend up to EUR 10, Swed­bank’s data shows.

Ieva Lūka/LETA

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