30 April 2017
Visit EBAday.com

Russian Standard Bank enables mobile payments on Samsung smartphones

30 June 2014  |  6953 views  |  2 Samsung GS4

Russian Standard Bank is to be the first in Europe to enable contactless payments on NFC-enabled Samsung handsets.

The service, available through Russian Standard Bank's mobile banking app, enables users of Samsung Galaxy S4 and Note 3 devices to upload MasterCard prepaid contactless NFC cards issued by the bank into their smartphones. The smartphones can then be used to pay for goods and services using Tap & Go MasterCard PayPass technology.

The application is currently supported by LTE-enabled smartphones (GT-I9505 and SM-N9005 models), and will soon arrive on 3G models (GT-I9500 and SM-N9000) following a system update, to be carried out within the month. Over-the-air download and management of Mobile MasterCard PayPass cards is provided through the TSM platform of the card scheme's Trevica subsidiary.

The prepaid contactless card issued by Russian Standard Bank has a validity period of one year and a limit of 15,000 rubles. The card can be funded with electronic transfers from other bank cards, or with cash, using the bank's ATMs.

Once the card is issued and funded, the smartphone can be used to make purchases without opening the application or entering the security code. All card credentials for making contactless payments are stored in the phone's secure element.

Ivan Glazachev, acquiring department director, JSC Russian Standard Bank, comments: "From now on, owners of Samsung smartphones supporting the NFC technology can use their bank cards on an absolutely new level, without being tied to plastic, the Internet, or even needing to unlock the phone when paying."

In December 2013, Commonwealth Bank of Australia became the first bank, globally, to collaborate with MasterCard and Samsung and offer contactless payments on select Samsung devices using Mobile MasterCard PayPass technology.

Comments: (2)

Alexander Peschkoff
Alexander Peschkoff - TEDIPAY - London | 30 June, 2014, 09:56

Hm, interesting... Samsung's global partner for embedded SE (which is used for that Russian Standard's solution) is Oberthur. Why is Trevica in the equation...

Russia has an advantage of MNOs mostly not being able to dictate to Samsung who can use their eSE and what for. Unlike in many other countries...

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Alexander Peschkoff
Alexander Peschkoff - TEDIPAY - London | 30 June, 2014, 10:03

Trevica, in turn, uses 3rd party's TSM platform... (Funny that the link in that article leads to "PhayMobile" - reminds me of "PHishing"...)

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

WestPac NZ and Samsung team on digital banking innovation

WestPac NZ and Samsung team on digital banking innovation

20 May 2014  |  6508 views  |  0 comments | 7 tweets | 5 linkedin
Researchers crack Galaxy S5 fingerprint reader and access PayPal app

Researchers crack Galaxy S5 fingerprint reader and access PayPal app

16 April 2014  |  8193 views  |  0 comments | 15 tweets | 5 linkedin
Westpac forecasts $3 billion in mobile contactless transactions in 2015

Westpac forecasts $3 billion in mobile contactless transactions in 2015

09 April 2014  |  6771 views  |  0 comments | 3 tweets | 9 linkedin
Samsung and PayPal team to let Galaxy S5 owners pay by fingerprint

Samsung and PayPal team to let Galaxy S5 owners pay by fingerprint

25 February 2014  |  7623 views  |  0 comments | 13 tweets | 18 linkedin
CommBank and Westpac to put Australia at forefront of Mobile NFC wave

CommBank and Westpac to put Australia at forefront of Mobile NFC wave

12 December 2013  |  5907 views  |  0 comments | 5 tweets | 7 linkedin
Samsung Galaxy S4 gets barcode scanning tech for digital coupons

Samsung Galaxy S4 gets barcode scanning tech for digital coupons

15 March 2013  |  10931 views  |  0 comments | 9 tweets | 7 linkedin
Samsung to pre-load mobile devices with Visa NFC app

Samsung to pre-load mobile devices with Visa NFC app

25 February 2013  |  12552 views  |  2 comments | 18 tweets | 11 linkedin
Komercni partners with Visa, Samsung and Telefonica for mobile payments

Komercni partners with Visa, Samsung and Telefonica for mobile payments

24 August 2012  |  6292 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit vasco.com/news/PSD2-compliant-solutionsFind out morevisit dh.com

Top topics

Most viewed Most shared
JPMorgan formally quits R3JPMorgan formally quits R3
8285 views comments | 27 tweets | 16 linkedin
Six global banks join Swift DLT trialsSix global banks join Swift DLT trials
8197 views comments | 17 tweets | 36 linkedin
BBVA steps up fintech acquisition strategy with purchase of OpenpayBBVA steps up fintech acquisition strategy...
7686 views comments | 18 tweets | 18 linkedin
Should central banks open up payment and settlement systems to non-banks?Should central banks open up payment and s...
6471 views comments | 22 tweets | 21 linkedin
UBS moves risk platform to Microsoft Azure cloudUBS moves risk platform to Microsoft Azure...
6319 views comments | 11 tweets | 21 linkedin

Featured job

to 120K base, £300K ote, stock options
London, UK

Find your next job