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Contactless payments will be the norm by 2020, says Mastercard Romania

In 2017, Romanians made 100 million contactless payments in Romania, via Mastercard and Maestro cards, representing 60-70 per cent of the total payments.

2018-04-24 11:49:46

At this rate, Mastercard country manager for Romania and Moldova Cosmin Vladimirescu argues, by 2020 contactless payments via mobile phones and smart watches will become the norm, according to Business Review.

By the end of 2017, contactless payments made in Romania totalled 100 million, Cosmin Vladimirescu told journalists at an event over the week-end. The growth is explosive, when considering that in 2015 only 3 million payments using this method had been recorded.

Within two years, the Mastercard representative said, payments via smart watches and smartphones will become a reality for Romanians, given that recent developments paved the way for their upcoming adoption.

The market is very willing to adopt these payment technologies, the infrastructure that enables this type of payments is already out there, and several banks are already preparing to integrate bank cards in electronic wallet apps, he said.



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