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View all search results‘Future of payment’: Bank Mandiri to issue 400,000 contactless cards in 2020
Bank Mandiri credit card group senior vice president Lila Noya said the bank had issued some 250,000 Mandiri Visa contactless cards, up more than 100 percent year-on-year (yoy), so far this year.
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tate-owned Bank Mandiri has targeted to issue 400,000 contactless cards this year as consumer preference is tending toward contactless payment options amid the pandemic, the bank’s executive has said.
Bank Mandiri credit card group senior vice president Lila Noya said the bank had issued some 250,000 Mandiri Visa contactless cards, up more than 100 percent year-on-year (yoy), so far this year.
“We think contactless payment is the future of payment. Things are certainly heading in that direction,” Lila said during a virtual press conference on Thursday.
She added that the source of growth could come from new applicants or existing applicants who wanted to extend their cards, whose old cards the bank would automatically replace with a contactless one.
Read also: Bank Mandiri provides open banking API for e-commerce, fintech
Contactless cards allow consumers to carry out transactions without needing to hand over the card to a shopkeeper as payment will immediately be processed when the card is within close range of a merchant’s electronic data capture (EDC) machine. Lila said such a method was preferred as consumers had adapted to new health protocols.
In a 2020 report titled Digital Consumers of Tomorrow, Here Today commissioned by Facebook, global consultancy firm Bain & Company found that Southeast Asian consumers were embracing contactless payments as preference for e-wallets grew at the expense of cash payments.
