From now on contactless payment is also possible with THIS card

From now on contactless payment is also possible with THIS card

The National Bank of Serbia, as the operator of the DinaCard system, informs citizens that contactless payments with the DinaCard payment card are enabled. This means that all newly issued DinaCard payment cards issued (and reissued) by banks will have contactless functionality, which has been enabled since June 1 of this year.

The issuance of contactless DinaCard cards was preceded by comprehensive activities of the National Bank of Serbia and banks to enable the acceptance of contactless cards at all POS terminals in the country. In accordance with the plan and announcements, in the first half of the year it was possible to accept contactless DinaCard cards on the acceptance network (at POS terminals at points of sale), and then the certification of all banks participating in the DinaCard system for issuing contactless DinaCard cards was carried out, after which banks started issuing contactless DinaCard cards to users.

Within the framework of the DinaCard system, banks now issue all types of products with contactless technology – DinaCard single cards (cards intended exclusively for domestic use) and DinaCard-Discover cards, and previously also DinaCard-UnionPay cards.

In addition to ease of use and practicality, contactless DinaCard cards allow their users to pay at the point of sale without entering a PIN for amounts less than 6,000 dinars, while for transactions with a larger amount, it will be necessary to enter a PIN at the POS terminal, which is an important aspect of security. .

What is Dina’s card?

The DinaCard card is a national card whose operator is the National Bank of Serbia, and all DinaCard cards are produced in the country, by the Banknote and Cash Production Institute Topčider. Guided by the principle that everything we do, we do for the benefit of our citizens and the economy, in addition to activities aimed at improving the functionality of the national DinaCard card, special importance is attached to the cost aspect of business in the DinaCard system for all participants, so that for the national card brand DinaCard are defined the lowest card system costs (many times lower than the costs of international card systems). As a result of these activities, the DinaCard card is today a modern, practical, cost-effective card, at the service of users, banks, merchants and the market as a whole.

Another strategic measure, which was aimed at easier and cheaper access to cashless payments, is the initiative of the National Bank of Serbia from June 2018, when the Law on Interbank Fees and Special Business Rules for Payment Transactions Based on Payment Cards was adopted – by which interbank fees discounted. This resulted in a reduction in the merchant fee for merchants and an increase in the number of acceptance points at physical and online sales points. As a result of the Law and the intense communication of the National Bank of Serbia with merchants on the subject of rights and benefits that the Law brings, the merchant fee for accepting cards was reduced from an average of 2.11% in the third quarter of 2018 to an average of 1.02% at the end of 2023. year. In this way, the costs of accepting payment cards were significantly reduced for merchants, and preconditions were created so that even those merchants who did not enable the acceptance of payment cards can do so. Based on the reduction of the average merchant fee charged, for the period from 2019 to 2023, merchants achieved savings of over 300 million euros. Although the comprehensive effects of the Law will be more visible in the long term, the results are already measurable, and the National Bank of Serbia continues to continuously collect data and analyze the movement of the amount of average charged trading commissions on the market, and monitors other effects of the Law on the market.

Source: BIZLife

Photo: Freepik