Chipknip

Currence continues to support Chipknip
The media regularly carry stories about Chipknip, but the information is not always complete. Currence therefore wants to emphasise that the company continues to support Chipknip. It is up to individual businesses to offer a particular payment method.

New developments in payment systems all the time
The payment system is constantly developing, with new generations of POS terminal and new, even more secure payment methods being introduced all the time. Currently we are seeing the gradual implementation of EMV in the Netherlands. This is a global operation which will take several years to complete, involving changes to all types of credit card and debit card, such as the familiar PIN card in the Netherlands. The implementation of EMV means that PIN and Chipknip can be included together on the same card (chip).

Merchants currently accepting both PIN and Chipknip will have to decide whether they wish to continue accepting both payment methods in the future. In view of the increase in the use of PIN cards for smaller amounts, the use of Chipknip in shops is expected to decline in future. In the 10 years since its launch, Chipknip has developed into the preferred method of paying without the use of cash in the Parking, Vending and Catering (PaVenCa) market.

Parking, vending and catering market
Chipknip is ideal for paying small amounts when you do not have the ready cash. Many parking and vending machines in fact accept only Chipknip payments. Currence expects Chipknip to continue to make inroads in this market.

The speed of a Chipknip transaction (just press the button to make the payment) makes Chipknip ideal for use in canteens and company restaurants. At mealtimes, it allows hundreds of people to get and pay for a meal in a very short space of time.

In the parking and vending segment, the ease of incorporating a Chipknip POS terminal and the ability to accept offline payments (no need for telecommunication link) come to the fore. Consumer expectations also play a part: whether using a parking meter or a vending machine, people expect to be able to pay the right amount quickly using Chipknip, without having to worry about having the right coins.

More information
For more information about Chipknip, go to www.chipknip.nl.