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Fido Bank launches HCE mobile payments in Ukraine

Consumers across Ukraine can now make host card emulation (HCE) based mobile payments using The Pay, a new service launched by Fido Bank in partnership with mobile wallet platform provider PriNum.

Fido BankThe service is the first in the country to make use of Visa cloud-based payments and is being launched in collaboration with Retail Group, operator of the Velyka Kyshenia, Velmart and VK Express supermarket chains.

“Following an installation and a one-time enrolment process of The Pay on an NFC-enabled Android device, any Ukrainian citizen can make fast and secure contactless payments at NFC capable POS terminals,” PriNum says.

“There is no need to visit a bank branch to open an account or open a bank application to make a payment, customers should simply unlock the mobile device and wave their smartphone in front of a contactless POS terminal. Merchants and businesses that are already taking payment cards using Visa PayWave technology do not need to install additional software or hardware to set POS terminals.”

“The solution is based on prepaid cards that can be topped up by anyone with cards/cash through self-service terminals,” PriNum told NFC World. “So basically even unbanked customers can use it.”


Consumers who download The Pay app will get a one-time bonus deposited into their digital card account and 5% cashback on purchases made using the service at any Retail Group store, the company added.

“We have tried to build it around the principles of being simple, being rewarding and being secure, both for customers and for merchants,” says Grigory Roginsky, director of PriNum. “Consumer uptake of mobile payments will be correlated to the value add obtained from using mobile phones.
“Loyalty, which has already demonstrated to be a key factor in driving consumer payment choice, will be just as important for the acceptance of mobile payments.”

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