Updated 6.57pm with BOV reaction

The technology first appeared more than a decade ago and shoppers on the continent have been using it for years. 

Now Maltese consumers are one step closer to being able to just tap and pay using their bank cards, with Global Payments announcing last week that they have obtained the necessary certification from both Visa and Mastercard. 

But although the technology is now certified, Malta's two major consumer banks have remained tight-lipped about their plans to introduce contactless cards. 

Contactless payment technology allows consumers to make small purchases using their bank cards without having to swipe, sign or type in their PIN. Users simply tap their cards on a payment terminal and head on their way. 

“Cash gave way to card and the magnetic stripe on the card made way for the chip. Now, the chip is being overtaken by the antenna built inside the card,” said Stephen Teuma Country Manager, Global Payments Malta.

Global Payments will now start offering local retailers updated point-of-sale terminals equipped with contactless technology. All terminals must be updated by the end of 2019, according to a deadline set by Visa and Mastercard. 

Shoppers would only be able to make payments of up to €25 using contactless cards, Global Payments said. More expensive purchases would require shoppers to use more traditional verification methods. 

Having contactless payment terminals will be useless, however, unless consumers have bank cards - or mobile apps - equipped with the technology.

An HSBC spokesperson told Times of Malta that the bank was supportive of anything that made payments easier for customers, noting that the bank operated contactless systems in many overseas countries. 

They however declined to offer any time frames as to  when this might happen locally, saying simply that they would work with their partners - in this case, Global Payments - "to introduce developments in the future." 

The technology uses Near Field Communication (NFC) technology. Photo: ShutterstockThe technology uses Near Field Communication (NFC) technology. Photo: Shutterstock

In a reply sent after the article's publication, Bank of Valletta were more forthcoming. A spokesperson for the bank said that it was "actively working to be able to offer these cards to our card holders." Like HSBC, however, the bank did not offer any time frames. 

Contactless payments have mushroomed in popularity since they were first introduced several years ago. Shoppers in Florida first started using contactless cards way back in 2003, and consumers in the UK reportedly spend an average of £1.5 billion every month using contactless cards. 

While Malta has yet to register its first contactless purchase, shoppers in other countries have already started moving on to the next step in contactless technology - paying using your mobile phone. 

Mega-firms such as Apple and Google have both invested heavily in NFC payment technology, which allows consumers to simply wave their mobile phone over a payment terminal to make a payment. 

Global Payments told Times of Malta that it would be open to introducing such technology if the market demanded it. But given that the banks have yet to introduce the technology that preceded it, it's safe to say local shoppers shouldn't hold their breath. 

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