First Polish bank to launch cloud payments
PR dla Zagranicy
Peter Gentle
22.09.2014 09:41
Customers of BZ WBK may be soon able to use their phone just like their now use a proximity payment card.
photo - Glow Images/East News
Poland's third-largest bank BZ WBK will be the first in Poland and third in the world to launch a payment system based on host card emulation (HCE), a type of so-called cloud payment, in cooperation with card operator Visa.
The system will allow customers to use their smartphones in a similar way as they now use proximity payment cards. They will place the phone next to the payment terminal and confirm the transaction with a PIN-code.
The feature will be available as part of BZ WBK's mobile banking application, for customers who use smartphones with the latest version of Android software.
In HCE technology, transaction data is stored in a cloud server. This allows for the system to be independent of mobile telecommunications networks.
Only two banks worldwide have already introduced similar systems – BBVA in Spain and VUB in Slovakia.
According to the Dziennik Gazeta Prawna daily, MasterCard is also working on launching an HCE payment system, most likely in cooperation with Poland's second-biggest lender Bank Pekao. (kw)