INDIANAPOLIS — First Internet Bank has announced it is issuing debit cards that include the Visa payWave feature. These contactless debit cards promise First IB cardholders a faster and easier check-out, with the same security protection given to traditional magnetic stripe cards.
According to a news release form the bank, each First IB debit card enabled with Visa payWave is embedded with an advanced computer chip that uses radio frequency to perform the transaction. By simply holding the First IB debit card with Visa payWave close to a contactless card reader, customers can complete a purchase transaction in seconds. The cardholder remains in possession of his or her card at all times and, for most purchases under $25, will not be required to sign a receipt. In cases where the merchant does not accept contactless transactions, cardholders can still swipe the card, just as they always have.
The bank's president and CEO, David Becker, says an employee pilot program helped First IB determine whether consumers are ready for the technology:
 | First Internet Bank strives to be a leader in innovation, and the adoption of this card keeps First IB at the forefront of banking technology. Studies have shown, and our employee pilot program confirms, that cardholders find contactless payments to be fast and easy. We are pleased to offer our customers this new feature for everyday purchases. It's just another way we work to make banking easier for our customers. |  |
