After New Year It Will Be More Complicated To Withdraw Cash From ATM

Since January 2017, banks will not install the terminals that do not accept contactless cards.

On January 1, 2017 the Belarusian banks will no longer connect equipment that does not support contactless payment method. Traders will have to consider this fact when choosing terminal equipment for their trading points, tut.by writes.

The international payment system MasterCard, in its Bulletin #1 as of January 15, 2016 announced that, starting from 2017, all new payment terminals in retail trading points (POS-terminals) must be installed with the function of carrying out contactless payments.

A similar requirement is reflected in the decision of the National Bank of April 8, 2016.

Today, over 12,7 million of bank payment cards remain in the hands of the population. Of these, 1,67 million contactless cards provide the option of contactless payment (data as of October 1). At the same time, out of the country's more than 137,000 payment terminals only 25 thousand support contactless payment method.

“Belarusbank” was the first to receive the right to serve contactless cards back in 2012. Now all acquirer banks have an opportunity to connect the terminals with a function of performing contactless payments.

"As for the merchants and their readiness for new technologies, it leaves much to be desired, — says the company’s message. — Still, some cashiers do not understand contactless payment method, and insist on ordinary payment method in the presence of a contactless terminal in a retail trading point ".

In addition, shopping facilities should consider not only contactless payment options, but also the fact that the terminal has to accept for payment both the cards of the international payment systems, and the domestic payment system BelCard, when selecting their terminal equipment.

"Today, in the pursuit of fulfilling the requirement regarding the terms of installation of terminals in the Technical Cooperation Departments (Council of Ministers Decree #924/16 of 06.07.2011) the mPOS terminals, which not only fail to fully support the opportunity of payment with various cards, but remain short-lived solutions, appeared at the Belarusian market," — General Director of "MBB-Trade" Valer Boika says.