Belarus-based Priorbank is now using HCE technology to give its customers a universal payment tool.
The service supports MasterCard cards and will be expanded to Visa cards later this year. This is the first time Host Card Emulation (HCE) technology for issuing cards in a smartphone has been used in Belarus.
The solution was developed on the WAY4 platform by OpenWay, a leader in software for bankcard issuing and acquiring, payment processing, remote banking services and financial transaction routing.
To start using the service, Priorbank customers download a special app to their phones and create mobile version of their bankcard in two clicks. The card in the phone can be used for payment in shops, restaurants and anywhere POS terminals supporting contactless payment technology are installed.
Each transaction over 200,000 Belarusian rubles (about $10) is confirmed by PIN. Access to cards in the phone is protected by the app’s password. The bank plans to implement the mobile issuing service for both debit and credit cards.
The WAY4 HCE solution allows issuers to independently issue virtual cards to client mobile phones and store encrypted card data on bank servers. The technology ensures a high level of security for storing financial information according to international standards. The service can be used anyone who has a phone with NFC support, running under Android KitKat 4.4 and higher.
Despite international technology giants such as Apple Pay, Android Pay, Samsung Pay entering the payments market, processing companies and banks are also interested in developing their own mobile applications for tokenization and contactless payment. This helps them to maintain their brand and direct contact with clients. The WAY4 HCE solution offers many advantages for issuers, allowing them to expand their line of innovative card products, save on plastic card fulfillment costs, and quickly and securely bring new services to market. Not only does the solution make it possible to issue a mobile version of a client’s existing card, virtual prepaid card can also be offered to new customers. These cards can be issued instantly at mobile sales points or during public events as a ticket and means of payment.
The WAY4 HCE solution was developed to be compatible with any processing system. Moreover, OpenWay has created a set of developer tools, WAY4 HCE SDK, so banks can build WAY4 HCE into their own mobile applications (for example, mobile banking apps operating on WAY4 or another platform).
Priorbank is one of the largest banks in Belarus, and is a member of the Austrian banking group Raiffeisen Bank International.
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