With its broad proposition of Visa cards, the Bank of Cyprus decided to work with Matica’s long-term partner in the region, Mellon Cyprus, and systems integrator Gemalto, (provider of the software solution and contactless stickers).

Available in light grey and a dark grey colour, the card simply sticks onto any device the consumer deigns fit to use as his/her wallet, the most common being a mobile phone. This allows consumers to quickly present their mobiles to a POS terminal (with contactless technology) to make a fast and secure transaction – both at home and overseas.

Used in the same way as a contactless credit, debit or prepaid card, the ‘Tagpay’ card can process purchases under €20 (within Cyprus) and for extra security, a PIN is required for purchases over €20.  The ‘Tagpay’ card also collects the Bank of Cyprus’ ‘Antamivi’ reward points at participating merchants with relevant purchases, proving its uses for loyalty cards as well.

For now, the bank divides the way in which they produce the ‘Tagpay’ stickers between external suppliers and in-house. Externally, the stickers are processed by service bureau, JCC Payment System Limited, with Matica’s S3100 desktop printer and the more industrial S5200G. In-branch, the bank deploys Matica’s newest instant issuance desktop printer, the S3500, to produce stickers and wearables, but also: credit, debit and pre-payment cards. This allows banking staff to immediately place a ready-to-use payment card into the hands of their customers without the expense and risks of not activating and using the card attached to mail /courier distribution.

All three solutions (S3100, S3500 and S5200G) are capable of producing a broad spectrum of personalised cards (debit, card, pre-payment) as well as ‘Tagpay’ stickers and wearable contactless cards . The contactless interface is exactly the same as those used in debit and credit cards. The primary difference between the S3500 and the S3100 lies in the former’s automation (full), whereas the entry model, S3100, needs human input. The S3500’s hopper can also extend up to seven, allowing even more card personalisation.

Matica’s S5200G is a standalone industrial desktop system for low to mid-volume issuance programmes. All the solutions are designed to offer a solid return on investment given their modularity and multifunctioning. The S3100, S3500 and S5200G are also deployed to produce Bank of Cyprus’ contactless Mini-Tag cards for ‘wearables’. This is a product that provides cashless / contactless payments after being integrated into any watch or wearable designed for chip integration (a specific chip slot).

“It was a great opportunity to support the Bank of Cyprus in its successful efforts to innovate and use technology to introduce a unique and useful service to its customers,” said Markos Shiarly, Pre-Sales and Project Manager with Mellon (Cyprus).

“The ‘Tagpay’ stickers offer a hybrid between our current contactless payments and the sort of payment methods we may see in the future. They present a genuinely effective way of adding value on a day-to-day basis while also educating customers into the new era of contactless. ”

“We were very excited to be approached by one of our strongest global partners to be a part of this pioneering lifestyle development in Cyprus.” said Sandro Camilleri, CEO, Matica Technologies Group.

The Bank of Cyprus’ ‘Tagpay’ stickers are providing a cost-effective marketing strategy to set them apart from the competition. Since its inception, more than 30,000 cards have been issued.