Visa and Mastercard will oblige Russian banks to issue only contactless cards

UFA, 2 April 2019. /Bashinform News Agency/ translated by Tatiana Aksyutina/. The Visa and Mastercard international payment systems will oblige Russian banks to issue only cards with a contactless payment option, RBC informs. Visa introduces a new requirement since April 13 of the current year, Mastercard - since April 12, 2021.

A contactless card costs the bank 1.5-2 times more than a contact one. The difference in cost will not be so significant with the issuance of large editions. Therefore, the issue of exclusively contactless cards will be a challenge mainly for small and regional banks, experts believe.