A Swiss bank has partnered with acquirer SIX Payment Services to issue a debit card that enables both contactless and regular transactions.
Hypothekarbank Lenzburg says the card is the first contactless V Pay debit card in Switzerland. V Pay cards have been available in Switzerland since 2014 through UBS and Raiffeisen.
Hypothekarbank Lenzburg is converting its entire portfolio of 22,000 debit cards to the dual-interface V Pay cards, the bank said in a press release.
In addition to processing services, SIX Payment Services also provides consulting for the card's contactless chip specifications and coordination with Visa Europe as the card scheme.
"Although we are a small bank, we wanted to be at the forefront of the industry," said Marianne Wildi, CEO of Hypothekarbank Lenzburg, in the release.
The technical implementation was not difficult for the bank, Wildi said, because adaptations to the core banking system were minimal and SIX Payment assumed the role of project coordinator.