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February 28, 2014updated 04 Apr 2017 4:08pm

Ukraine’s PrivatBank unveils mobile NFC payments service using HCE

Ukrainian financial services provider PrivatBank has unveiled its cloud-based mobile NFC payments service using host card emulation (HCE).

By Verdict Staff

Ukrainian financial services provider PrivatBank has unveiled its cloud-based mobile NFC payments service using host card emulation (HCE).

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Available in beta, the new Liqpay app will work with NFC smartphones running on Android 4.4 KitKat to allow users register any MasterCard or Visa card to fund payments made with a tap of their phone at contactless terminals.

It is reported that HCE will allow any NFC application on an Android device to follow a smart card, letting users pay with their smartphones, while permitting financial institutions to host payment accounts in a secure, virtual cloud.

PrivatBank e-commerce business head, Alexander Vityaz, said: "Consumers will be able to download a beta-version of the Liqpay App starting tomorrow. We decided to use HCE because it is independent and a very easy solution."

Free Report
img

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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