Milan and Prague, August 1st 2016 – 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. Furthermore, the NaNákupy app allows payments without using mobile data or Wi-Fi connection and all cards are under a single PIN.
By the end of 2016, new smart and useful features will be added to the mobile wallet. First of all, 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, for example exchanging them among family members.
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 - you can start paying with your mobile virtually immediately. All card-related benefits will be retained, of course,” 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. This is the first wallet in the Czech Republic and among the first on the international market to allow payment with both MasterCard and VISA through the same mobile app,” comments Nicola Cordone, Senior Vice President SIA.