PKO Bank Polski SA has selected Gemalto NA to support the transfer of the bank’s entire portfolio of Visa Inc. magnetic stripe debit cards to EMV smart cards that support Visa’s payWave contactless functionality, France-based chipmaker Gemalto announced earlier this month.

The bank began distributing the cards in September and plans to issue approximately 6.5 million of them by the end of 2011, Gemalto said in a Dec. 1 news release.

Cardholders may use the contactless function to pay for purchases up to 50 zloty (US$17 or 12.5 euros) at department stores, fast-food restaurants, movie theaters and pharmacies, according to Gemalto.

PKO is Poland’s largest financial institution and is the first Polish bank to convert its entire card portfolio to support contactless payment.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry