Russian Standard Bank enables mobile payments on Samsung smartphones
30 June 2014 | 7274 views | 2
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.