Hypotherkarbank Lenzburg & SIX launch contactless debit card in Switzerland

Hypotherkarbank Lenzburg has introduced contactless debit cards to the Swiss market.

Hypotherkarbank Lenzburg, an Aargau-based regional bank, together with global technology company SIX Payment Services, has introduced contactless debit cards to the Swiss market.

The Swiss regional lender will replace the entire portfolio of 22,000 debit cards by the new dual-interface V PAY card to enable both contactless and regular transactions.

V PAY’s chip-based technology will provide high level security for all transactions apart from maintaining efficiency at check-out for merchants and ease-of use for consumers.

SIX will support the Hypothekarbank Lenzburg with a comprehensive package consisting of consulting services, central project co-ordination services with VISA and the full issuer processing services.

Hypothekarbank Lenzburg CEO Marianne Wildi said: “Although we are a small bank we wanted to be at the forefront of the industry and as our established partner, SIX was ideally placed to facilitate the initiative.” The technical implementation was not difficult for the bank.”