Kazkommertsbank partners with Visa to launch HCE payments service
Kazkommertsbank, a private bank in Kazakhstan, has partnered with Visa to launch the contactless mobile payments service in Kazakhstan.
The service, which is based on Host Card Emulation (HCE) technology, will allow the bank’s customers to make contactless payments using Android-smartphones with NFC chip.
In order to avail the service, customers have to download and install a special application which is available for mobile devices running Android version 4.4 and a built-in NFC chip.
The solution will now enable Visa cardholders of Visa cards, issued by Kazkom, to easily integrate them with their Android-smartphones to pay for goods and services, both in Kazakhstan and in other countries, where contactless Visa payWave technology is available.
The service requires the entry of PIN code by users for payments of over KZT5, 000 to provide additional security of transaction.
The bank has over 5,000 contactless POS terminals in use in supermarkets, restaurants and shops across Kazakhstan and is planning to boost this number to 12,000 by the end of 2016.
Visa regional manager of Central Asia Galym Tabyldiev said: “Visa payWave technology accelerates and simplifies the payment for goods and services, thus creating additional comfort, both for buyers and for sellers.
“Visa Cloud technologies allow to use the mobile phone as a payment instrument, allowing to increase the volumes of electronic payments and providing to mobile commerce the new level of performance.”