The FINANCIAL — Russian Standard Bank, Samsung Electronics and MasterCard have announced the commercial launch of a contactless payment service on some flagship NFC-enabled Samsung devices. For MasterCard and Samsung, the Russian launch is the second one globally and the first in Europe and will help to accelerate the adoption of mobile payments, according to MasterCard.
The service, available through Russian Standard Bank’s mobile banking app, enables users of Samsung GALAXY S4 and Samsung GALAXY Note 3 to upload MasterCard prepaid contactless NFC cards issued by Russian Standard Bank into their smartphones. The smartphones can then be used to pay for goods and services using innovative Tap & Go MasterCard PayPass technology. This is the first time that contactless payments technology has been made available on the Russian market to users of Samsung devices with an embedded NFC chip, implemented within a banking application. The application is currently supported by LTE-enabled smartphones (GT-I9505 and SM-N9005 models). The application will also be supported by 3G models (GT-I9500 and SM-N9000) following a system update, to be carried out within the month. Over-the-air download and management of Mobile MasterCard PayPass cards in NFC chips of Samsung smartphones is provided through the TSM platform of TREVICA, a MasterCard subsidiary.
Tap and Go MasterCard PayPass technology enables purchases to be made quickly and easily by simply tapping the smartphone on a MasterCard PayPass reader at the merchant point-of-sale. PIN code authorization is not required for purchases of less than 1,000 rubles. The MasterCard prepaid contactless card issued by Russian Standard Bank has a validity period of one year and a limit of 15,000 rubles. The card can be funded with electronic transfers from other bank cards, namely the bank’s RS express service, or with cash, using the bank’s ATMs, according to MasterCard.
“Samsung strives to create products and solutions that make people’s lives more convenient and simpler every day. Our cooperation with Russian Standard Bank and MasterCard shows how our joint efforts to innovate enable us to reach these goals. The contactless payment service is now available for Samsung smartphone users wherever and whenever they need it,” Konstantin Tarachev, Project Manager, Head of NFC Department, Samsung Russia and CIS, said.
“All over the world, MasterCard actively contributes to the advancement of innovation as well as the development of payment technologies and services associated with NFC technology. Russia is one of the priority markets for MasterCard, and we are pleased to offer state-of-the-art technology and solutions to Russian consumers. In partnership with Samsung, we launched a similar solution in Australia in 2013. We are excited that the second project of this kind is being implemented in Russia, in partnership with our longstanding partner, Russian Standard Bank. I am confident that this project will become a milestone, not just for the Russian payments industry, but for its global, history as well”, said Dmitry Tartyshev, MasterCard Business Leader, Mobile Business Development in Russia.
“Today, Russian Standard Bank, along with its ongoing partners – Samsung and MasterCard– implements the project that marks a new development stage of the Russian cashless payments market, which are convenient, accessible, and fast. From now on, owners of Samsung smartphones supporting the NFC technology can use their bank cards on an absolutely new level, without being tied to plastic, the Internet, or even needing to unlock the phone when paying. We are excited that Russian Standard Bank is first on the market to implement, this advanced technology together with Samsung and MasterCard and offer such service to Russian consumers”, said Ivan Glazachev, Acquiring Department Director, Member of the Board of Directors, JSC Russian Standard Bank.
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