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March 11, 2016updated 04 Apr 2017 3:59pm

PriNum, Fido Bank roll out HCE mobile payments in Ukraine

PriNum, a digital issuance and open wallet platform provider, has joined forces with Fido Bank to launch the first NFC mobile payments bank application in Ukraine.

By Verdict Staff

PriNum, a digital issuance and open wallet platform provider, has joined forces with Fido Bank to launch the first NFC mobile payments bank application in Ukraine.

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The application, dubbed as The Pay, will allow consumers across the Ukraine to make host card emulation (HCE) based mobile payments at NFC capable POS terminals.

The application is based on the PrimeKit platform, a token-ready and digital enablement software platform developed by PriNum for secure contactless mobile services.

The service, which makes use of Visa cloud-based payments, is being launched in collaboration with Retail Group, operator of the Velyka Kyshenia, Velmart and VK Express supermarket chains.

The PAY application includes features such as enabling contactless payment using a mobile phone at any Visa payWave terminal, three safety levels that exclude possibility of fraudulent payments and a digital card that can be obtained without visiting a bank or opening a bank account.

By downloading the The PAY application, customers can get a one-time bonus deposited into their digital card account and cash-back for every purchase made with their mobile device.

PriNum director Grigory Roginsky said: "We have tried to build it around the principles of being simple, being rewarding and being secure both for customers and for merchants.

"Consumer uptake of mobile payments will be correlated to the value add obtained from using mobile phones. Loyalty, which has already demonstrated to be a key factor in driving consumer payment choice, will be just as important for the acceptance of mobile payments."

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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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