MILAN & PRAGUE--(BUSINESS WIRE)--ČSOB, one of the largest commercial banks in the Czech Republic and part of the Belgian KBC Group, and SIA, a company specializing in the management of electronic payments, have developed and launched the first mobile wallet for NFC payments in the Czech Republic that supports both the MasterCard and VISA circuits.
The new mobile application “NaNákupy” enables ČSOB clients to make contactless payments to retailers by smartphone. Thanks to SIA’s infrastructure, debit and credit cards can be virtualized in the mobile wallet through Host Card Emulation (HCE) technology that stores data in total security, regardless of the mobile operator and without the need to apply for a new card or a special SIM card.
By the end of 2016, NaNákupy app users will have the possibility to pay
on the Internet, easily manage the settings of different credit
cards and constantly monitor transactions made via mobile.
In
addition, it will be possible to virtualize loyalty cards and store
receipts, or share shopping lists on a smartphone.
The
mobile wallet will also send notifications on goods warranty or
insurance expiration dates. All of the functions will be available
even to other banks’ clients who download the app to their mobile device.
“The ČSOB NaNákupy application will be the first in the Czech Republic to offer its users mobile telephone payments to retailers regardless of whether they hold a MasterCard or VISA,” says Petr Hutla, member of the ČSOB Board of Directors in charge of Retail. “We aim to simplify our clients’ lives, and therefore we decided to launch a solution where downloading the application and activating the service is enough,” explains Mr. Hutla.
“The Czech Republic has the highest proportion of retail NFC transactions in Europe and, therefore, is the ideal place for mobile payments. We are proud to have our long lasting relationship with ČSOB extended by the innovative mobile payment solution we have launched together,” comments Nicola Cordone, Senior Vice President SIA.
