JSC "VTB Bank (Georgia)" in collaboration with Visa is the first Georgian bank set to launch launch mobile contactless payment service based on Visa Cloud-Based Payments requirements and using PrimeKitTM platform developed by PriNum (Ukraine).
This solution implies that a bank customer who uses traditional payment cards and has an
NFC (Near Field Communication) - short-range (up to 10 cm) and high-frequented wireless communication technology that allows contactless data exchange between devices.
-enabled mobile phone with an Android operating system Ver. 4.4 and above will be able to download a mobile app. from Google Play and one or several bank digital cards. Thus, the entire functionality of a credit card is recreated on a customer’s phone and allows the user to make contactless payments at the point of sale.
"When “interacting” with a payment terminal, a mobile device will emulate a traditional contactless card, so no changes in the acquiring network are needed," said PriNum’s founder Eugene Zimin.
Head of the Retail Business Department, VTB Bank (Georgia) Givi Vadachkoria said,
"VTB Bank (Georgia) together with VISA and PriNum is the first bank in Georgia to introduce an innovative payment technology. VTB Bank (Georgia) always strives to provide customers with the most technologically advanced products and services. Mobile contactless payments is the best solution for comfortable and quick payments at POS. Upon launch of this service it will be much easier to manage bank accounts and make purchases. Mobile contactless payments will be made available to the owners of VISA cards and Android mobile phones. We are confident that our customers will appreciate the new bank service."
"An important advantage of the PrimeKitTM HCE-based solution that sets it apart from other NFC ecosystems is its independence from mobile operators, equipment manufacturers, etc. A bank manages all the aspects of the service independently," said Eugene Zimin.