OREANDA-NEWS. December 20, 2011. Raiffeisenbank and MasterCard international payment system announce the release of the first 100,000 credit cards with contactless payment technology, entitled MasterCard® PayPassTM. Raiffeisenbank released its first card with MasterCard® PayPassTM technology in March 2011, and then transferred its entire line of MasterCard cards, from standard to premium cards, as well as the Private Banking card segment, to this innovative technology in October, 2011. The holder of the one hundred thousandth card received a gift from MasterCard — a speed racing bike, reported the press-centre of Raiffeisenbank.

"We offer our clients the privilege of using the newest features of banking services by issuing all MasterCard cards with PayPassTM technology, as this provides more comfort to our card holders, — said Andrey Stepanenko, a member of Raiffeisenbank’s Board, and Head of Retail Private Individuals Directorate. We knew there would be great customer demand when at the start of the year we announced the launch of cards with this technology".

"We’re very pleased that these 100,000 customers of Raiffeisenbank can pay for purchases and services with their innovative contactless payment PayPass, - said Ilya Riabiy, head of MasterCard in Russia. — This payment method is widely used in many countries around the world, and we actively promote the introduction of new technology in Russia, since with MasterCard PayPass the payment process is even easier and more convenient".

Using MasterCard PayPass is simple, fast and safe. After checking the amount on the POS, one then has to touch the PayPass terminal with the card, after which indicator lights will light up as proof of payment, and a sound signal will confirm that payment has been made. Payments of up to 1,000 rubles can be made without entering a PIN code.

For more information about PayPass contactless technology please see www.paypass.ru.