Komercijalna banka issues a Visa Electron payWave card to owners of dinar current accounts at no issuing cost and no membership fee.
Users of Visa Electron payWave card can use funds from their account more easily, 24 hours a day – 365 days in the year, whether in Serbia or abroad.
The front of the Visa Electron payWave card has the number of transaction dinar account, which makes it also a current account ID card and a payment card.
Komercijalna banka has also enabled an option of withdrawing cash, using Visa Electron payWave card, in the Bank’s ATM network, at no fee for this service.
Komercijalna banka Visa Electron payWave card can also be used for payment of goods and services in locations that have the Visa Electron logo visibly displayed.
It functions on the principle of on-line authorisation, which means that the user may make a payment, either in Serbia or abroad, up to the amount of funds available in the current account. Use of this card abroad is not conditioned on opening a foreign currency account.
The user may request that the foreign currency account be linked to the Visa Electron payWave card. In that case, for transactions from abroad, with the aim of concluding them, a query will be made about the funds available in the foreign currency account in EUR currency and in the dinar current account in RSD currency. In order for the transaction abroad to be successful, first the available amount of funds in EUR in the foreign currency account is considered. If the user has a sufficient amount of funds in the EUR account, the transaction will be approved and the foreign currency account will be debited. In case there are no sufficient funds in the EUR account, the transaction can be approved on the basis of the available amount of funds in the foreign currency and dinar current account. In this case, both the foreign currency and dinar account are debited or only the dinar account.
Visa Electron payWave card can also be used for contactless payments. Transactions are carried out within a very short time of just a couple of seconds by placing the card over a reader. Contactless transactions can only be made at points of sale equipped with POS terminals that have contactless payment readers.
All contactless payment readers bear the following symbol:
When payment is made in Serbia, if the amount of contactless transaction equals or is lower than 2,000.00 RSD, it is not necessary to enter the PIN. If the amount of contactless transaction exceeds 2,000.00 RSD, it is necessary to enter the PIN.
When payments are made abroad, if the amount of the contactless transaction equals or is lower than 25.00 USD, it is not necessary to enter the PIN, but if the amount of the contactless transaction exceeds 25.00 USD, it is necessary to enter the PIN.
Maximum amounts of contactless transactions in Serbia and abroad, whose execution does not require that PIN be entered, are set by the Visa association and the Bank has no influence on them.
Apart from the basic one, the user may request that they be issued a maximum of two additional cards (linked to the accounts held by the basic card user).
Everyone interested in this service can obtain a free draft Framework Agreement from the Bank’s branch.
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