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Sourced from Htxt.Africa South African bank, FNB has revealed that contactless payments have surpassed Chip and PIN contact payments for the first time ever among its Credit, Debit, Fusion, and Virtual Card users. The Bank attributes the behavioural shift (from chip contact to contactless) to consumer’s preference and awareness of safer, convenient, and quicker means to pay at a Point-of-Sale. “This is a remarkable milestone for the financial services industry, and it augurs well for efforts to improve safety and convenience in the payments network,” says Raj Makanjee, Payments Executive at FNB. “With over 10 million contactless cards in the hands of our customers and 200 000 Virtual Cards activated, we are delighted to see our customers pioneering what we believe to be the future of payments globally. It goes without saying that the pandemic has definitely accelerated the growth in contactless payments as consumers and retailers continue to prioritise safety, convenience

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