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Citibank’s clients are the first in the Czech Republic to use Visa contactless payment stickers

PRAGUE – Reaffirming its leadership in the field of innovation, Citibank Europe plc issues Visa Micro Tag contactless payment stickers with Citi O2 credit cards from November 19, 2013. This is the very first instance of such cooperation between Visa Europe and a bank operating in the Czech Republic. Citibank is therefore the first bank in the Czech market to offer this new type of contactless device.

“Citibank has been offering its clients MasterCard contactless stickers since as early as last year’s fall. Expanding its cooperation with Visa Europe in contactless payments is another step for Citibank to consolidate its leadership in new technologies,” comments Veronika Špaňárová, Retail Bank Head at Citibank, on the cooperation.

Using this contactless payment sticker is as simple and secure as using contactless credit cards. For up to CZK 500 payments, the PIN need not be entered; just wave the sticker in front of the payment terminal. Payments can be made in this way at all acceptance points that support contactless payment technology. The number of such points in the Czech Republic is rapidly growing, as is the proportion of contactless payments.

“In compliance with Visa Europe’s long-term strategy we are focused on progressive replacement of cash transactions with the contactless ones. Those represent faster, more secure and convenient form of payment via contactless technology (contactless cards, NFC smart phones and, most recently, payment stickers). As a result of our long-term cooperation with our member banks, there are over 30 thousand payment terminals supporting the contactless technology available to Visa products’ holders in the Czech Republic,” said Marcel Gajdoš, Visa Europe Regional Manager for the Czech Republic and Slovakia.

Visa Micro Tag contactless payment stickers are automatically issued free of charge with all new Citi O2 credit cards. Current Citi O2 credit card holders can apply for stickers free of charge at the CitiPhone customer line or at Citibank branches. Where clients do not want contactless payment stickers but have received them, they need not activate them and can just destroy them. Stickers sent by post are inactive and cannot be used for payments without activation.