Cashless payments services specialist SIX Payment Services is supporting Switzerland’s WIR Bank for the launch of a new payment card designed for small to medium sized businesses (SMEs). Before now, holders of the WIRcard could only use it to pay at merchants who are also customers of WIR Bank, but the new card represents “a new universal payment method” for WIR’s business customers. The bank also has its own alternative currency called WIR, which is used for payments within the SME network of the WIR Bank.
SIX defined the chip functionalities and security specification of the new WIRcard, proposing that a chip and pin based V PAY-Card from Visa as core product be used. Cardholders can withdraw cash at all automated teller machines (ATMs) in Switzerland and internationally and they can use their card to pay at all point of sale (POS)-terminals with the V PAY- Logo. Contactless payments are also possible. “The WIRcard plus not only provides business customers with the same flexibility as they are used to from their private card, but also ensures the highest security standard due to the new generation of integrated chips,” said SIX. In addition, the functionalities of the proprietary WIRcard were integrated.
Users of the WIRcard plus can pay at around 10,000 WIR acceptance points in Switzerland and the card can also be used worldwide through the V PAY network.