Already 20% of the acquiring market in Ukraine accepts PayPass cards
Raiffeisen Bank Aval, a large bank in Ukraine, has launched MasterCard PayPass in April 2013. By the end of 2013 it is planned to issue 170,000 PayPasses.
The PayPass is protected by the same encryption standards as conventional chip cards.
Shopping with MasterCard PayPass of up to UAH 100 does not require entering a PIN or sign a receipt. However, purchasing for more than UAH 100 is additionally protected by a PIN.
Vera Platonova, CEO of MasterCard Europe in Ukraine, said that thanks to the efforts of MasterCard's partners, already 20% of the acquiring market in Ukraine accepts PayPass cards - more than 5,000 retail and service businesses
The 96.18-percent stake in the Raiffeisen Bank Aval public joint-stock company belongs to Raiffeisen Bank International AG (Austria).