Telecom Lead India: PrivatBank has selected digital security provider Gemalto for commercial mobile payment deployment.

PrivatBank with 18 million customers in Ukraine will leverage Optelio contactless stickers to enable its consumers to experience convenient payment using any mobile handset. Optelio stickers are available at all PrivatBank branches, and the bank is also distributing the stickers through retailers to increase ease of availability to accelerate market penetration.

Gemalto’s Optelio contactless sticker, a microprocessor-based secure personal device, is designed to work on any handset model, combining diminutive size with the highest communication performance at point-of-sale terminals that are contactless ready.

PrivatBank customers can attach the sticker to their mobile phone to securely use the contactless feature for small amount purchases. Gemalto also provides full personalization service, from the secure installation of confidential payment credentials onto the sticker through to customized packaging.

“Gemalto’s sticker solution made it the ideal choice in helping our customers become more accustomed to the new payment method. In the longer term, this will help us to prepare the market for mobile NFC, with the sticker being a first towards mobile contactless payment,” said Nikita Volkov, PrivatBank’s vice-CEO.

“PrivatBank is a financial leader with its sight firmly set on improving the payment experience for its customers, using the most innovative developments in technology. Gemalto’s Optelio solution offers a cost-effective option to quickly deploy mobile contactless payment services to PrivatBank’s existing customers,” said Jean-Paul Ternisien, senior vice president at Gemalto.

(pix for this article is sourced from Gemalto)

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