The Everyday Money division of Woolworths Ltd. has launched a reloadable prepaid chip-and-PIN MasterCard that also supports contactless PayPass payments, the Australia-based retailer announced Nov. 29.
Woolworths also issues another prepaid MasterCard, but it is not reloadable and does not require a PIN. The card also does not support ATM access, and cardholders can load no more than AU$1,000 (US$980 and 740 euros) into the card account.
The new reloadable card supports ATM access, and the account can store up to AU$10,000. Cardholders may use the contactless function for payments up to AU$100, and they may reload the card at any of Woolworth’s store or supermarket or through Bpay, a third-party online-payment provider.
Woolworths charges AU$9.95 for the reloadable card, which expires after three years. The retailer charges AU$4.95 to replace lost or stolen cards, and it charges customers 2.5% of the sale when used overseas.
The retailer also recently launched a credit card in Australia in association with Qantas Airways Ltd. (see story).
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