BelCard, MasterCard to issue joint payment cards
Belarus' biggest payment system BelCard and the international payment system MasterCard Worldwide will launch a joint project to issue banking cards. The agreement was signed by the Bank Processing Center (BPC) and MasterCard Worldwide, BelTA learnt from the Bank Processing Center.
The BPC informed that this is Belarus’ first agreement to issue payment cards incorporating two payment systems. In line with the agreement, any Belarusian bank that is a member of the MasterCard and BelCard systems will be able to issue both magnetic stripe cards and a new product - a chip payment card – under two brands. These cards will be serviced in Belarus by the two payment systems and by the MasterCard acquiring network abroad. Besides, banks that joined the BelCard payment system will get an opportunity to use modern payment technologies, in particular, microprocessors, and a technology of two-factor screening of cardholders during online transactions, a contactless payment technology and a money transfer service MasterCard MoneySend.