Türk Ekonomi Bankası (TEB) has announced it will launch a mobile contactless payment application, powered by Visa Europe’s HCE (Host Card Emulation) technology. The application will use the HCE functionality that is gathering pace across Europe as NFC enabled smartphones become widespread.
The application allows the bank’s customers to perform quick and secure contactless
transactions via a smartphone, using card data stored in the cloud instead of on the device. TEB’s customers will be able to make Visa contactless payments at more than 2.4 million contactless terminals across Europe with a simple tap using the bank’s “CepteTEB” mobile application.
“Using Visa’s cloud-based payments specification, TEB will soon be able to offer cardholders the ability to use their smartphones to make payments conveniently and securely,” said Merve Tezel, Visa Europe Turkey Country Manager. “This development will play a significant role in spreading the use of mobile payments in Turkey, ushering in a future of seamless ways to pay.”
This deployment by TEB is indicative of the wider uptake of cloud based payment technology, which is fast gaining momentum across Europe. At Mobile World Congress this year Visa Europe celebrated the growing support of HCE mobile payment adoption announcing that over 30 banks were due to go live with HCE enabled services by the end of 2015.