Mastercard and Bank Vostok has introduced a new NFC wallet for smartphones

Mastercard и Банк Восток представили новый NFC-кошелек для смартфонов

With the application “Mobile Bank Vostok” users will be able to pay with one touch from your smartphone with Mastercard and confirm the purchase with a fingerprint.

The smartphone penetration in Ukraine is 44%, and in 2020, experts predict a figure of 71%. Mobile payment solutions are of particular importance for Ukrainians.

Therefore, the Bank and East компанияMastercard presented a new contactless digital wallet on платформеMastercard Digital Enablement Service (MDES) in Ukraine. Users will be able with one touch to pay at physical retail outlets and transport using the mobile — POS terminals that support contactless payment Mastercard.

Wallet integrated into the updated version of the app for mobile banking “Mobile banking East”, which is already available for download and installation, users of smartphones with Android operating system version KitKat 4.4 and above, support NFC technology.

“We are glad to have provided another modern and high-tech service to customers of the Bank to the East. In our work, we primarily focus on innovative and reliable solutions, we recently released our mobile application, and today the Bank offers the possibility of rapid and contactless payments using a smartphone and NFC technology,” commented Chairman of the Board of the East Bank Vadim Morokhovsky.

The user logs in the app by entering the mobile number and password. All payment cards which are assigned to the mobile number is already in the application. No need to enter card details — only enough to activate the wallet application.

To realize a payment, the user needs to unlock the phone and press “Pay”. After that, entering a password and selecting the card, you must bring the phone to the terminal, and payment is made. For the calculations, NFC e-wallet available to all Mastercard from the Bank to the East, in addition to maps “Vlasna rakhunok” with a payment function — you can add it and use for payments from a smartphone in the near future.

In addition to the authorization access code, users whose smartphone supports TouchID, you will be able to confirm your entry in the app and pay using your fingerprint. To pay with NFC is possible, even in the absence of the Internet connection because the platform MDES maintains a special reserve codes tokens for payment.

“The modern world requires the creation of universal solutions and tools that integrate more functions, provide more opportunities, blurring the lines of physical and digital measurements. This versatile tool has become the smartphone, and now reveals another facet of its use — as a digital wallet. We appreciate the fact that the East Bank has supported this innovative project, which opens customers the latest experience of payment technologies and making payment as convenient as possible — using favorite gadget”, — said Yuriy Batkhin, Director of business development of Mastercard in the Ukraine, Georgia, Moldova and Central Asian countries.

The solution works on a global digital platform tokenization Mastercard Digital Enablement Service (MDES). The platform, which was introduced in 2013 and allows you to turn any device with an Internet connection into a secure payment tool. Today with MDES in the world are companies such as Apple, Samsung and Google. To pay decision to the MDES creates a unique token, which provides the maximum level of protection of the payment transaction.