First Investment Bank AD (Fibank) of Bulgaria is the first bank in the region launch a mobile HCE payment card product, the mobile payment service is based on Host Card Emulation (HCE) technology certified by MasterCard.
“Fibank is glad to offer a new product to its customers. Fibank’s mobile app customers using an NFC enabled Android handset can choose to add the digital card within the Fibank’s mobile app and perform a contactless payment in-store by tapping the NFC-enabled POS terminal to complete the payment,” says Svetoslav Moldovansky, Executive Director at Fibank.
This is one of the first commercial HCE NFC banking projects in Europe. The first phase supports the MasterCard payment scheme and the next phase will support the scheme from VISA Cloud Based Payments. The mobile bank users are able to use the service globally at all EMV contactless compliant POS terminals covering millions of merchants.
“We are proud to be a part of this innovative product launch, supporting Fibank in setting a new trend in the Balkan region,” comments Lars Sandtorv, CEO of MeaWallet. “We also we want to thank our partners ABnote, SimplyTapp and Tieto for their contribution with technology, integration and efforts to secure this success.”