According to Fibank, 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.
This launch is done with certified MasterCard partners, MeaWallet together with ABnote, SimplyTap, and Tieto.
The bank claims that this is one of the first commercial contactless banking projects in Europe. The first phase supports the MasterCard payment scheme and the next phase will support the scheme from Visa.
The mobile bank users are able to use the service globally at all EMV contactless compliant POS terminals covering millions of merchants.
First Investment Bank (Fibank) carries out its main business in the Republic of Bulgaria and with regional presence through foreign operations in Cyprus and Albania.
MeaWallet is a technology provider of end-to-end mobile digitisation platform (as a managed service) and business components, enabling contactless and remote mobile services to banks, access control providers, mobile network operators and retailers.
Tieto is an IT services company in the Nordics providing full lifecycle IT services. They also provide product development services for companies in the communications and embedded technologies arena. Headquartered in Helsinki, Finland, Tieto has over 13 000 experts in close to 20 countries.
SimplyTapp, founded in 2011, enables mobile applications for tap-payments. The companys platform leverages Host Card Emulation in conjunction with near field communications (NFC). It serves both retailers and financial institutions mobile payments initiatives.
American Banknote Corporation (or ABnote) provides secure ID, visa, vital record and transaction documents, systems and services to government and financial institutions. They also produce plastic transaction cards. Based in the US, ABnote has offices and manufacturing facilities in Canada, Australia, New Zealand, China, Germany, Dubai and South Africa.
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