Ukraine's PrivatBank launches contactless mobile POS

Source: PrivatBank

Ukrainian PrivatBank has launched a new mobile contactless POS for small business. Now smartphone owners can accept credit card payments without kardriders, simply scanning the card in the camera smartphone with a special application iPay.

"The procedure of reception of payments is identical to the Internet acquiring: the customer confirms the payment term of input cards and CVV-code,- says PrivatBank's Deputy CEO Alexander Vityaz. - If you have Smartphone, you are now ready to accept payments by cards, which will expand the scope of technology, and customers will be always satisfied with the quality of reception of payments".

PrivatBank became the first Eurasian Bank to introduce optical character recognition technology. Contactless Mobile acquiring is available to both corporate and private clients in Ukraine and Russia. To start using the service, simply download the free application and connect the iPay card or account to which payments will be credited. Transaction safety is ensured by using the most advanced standard for secure payments 3Dsecure.

IPay mobile technology was acquiring Privatbank in Ukraine and Russia in the 2010 and today is the most popular in CIS mobile payment system. As of June 25, 150 thousands of active users, most clients this service, PrivatBank is used in taxis, the household, insurance services, notary, etc.

PrivatBank is one of the most hi-tech banks in Europe. The technologies which PrivatBank was the first worldwide to introduce include SMS banking (1999), SMS one time passwords (2000), Р2Р passwords between cards (2003), Electronic Change (2009), online collection (2010), and others.

PrivatBank became one of the first banks to launch QR code based contactless services for its customers. Using a QR code, PrivatBank's customers can log in to their online bank account, withdraw cash at ATMs, fuel at gasoline stations, and make and pay for an order in a restaurant's online menu card. Today, every third customer of the bank uses its online services and mobile applications. 

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