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Credit unions make post-paid payments



Credit unions make post-paid payments

In Vienna In nine out of ten electronic payment agencies in Austria, contactless payments are now possible, and every second payment is handled in a supermarket without contact.


Contactless payment & ndash; Is NFC Safe?

Paying for convenient new features Image: Colourbox

Erste Bank and Savings Banks want to use it and are now cooperating with Garmin, a US company specializing in navigation systems and sports watches, to provide their customers with contactless calling through the Garmin clock.

In order to use the offer, an extra clock requires MasterCard from savings banks (used by Visa card in 2019) and a smartphone. The payment function is activated with data from a credit card, but card data is not stored on both the device and Garmin servers and is not transferred to the merchant by paying, according to Erste Bank statement. But to prevent abuse, there is a four-digit code that should be updated every 24 hours – or when the clock is removed from the hand.

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