CSOB, a Czech commercial bank and part of the Belgian KBC Group, and SIA have rolled out mobile wallet for NFC payments in the Czech Republic.
The new mobile wallet, Known as NaNakupy, is touted to be the country's first NFC payments mobile wallet for Visa and MasterCard.
Using SIA’s infrastructure, debit and credit cards can be virtualised in the mobile wallet through Host Card Emulation (HCE) technology that stores data in total security, regardless of the mobile operator.
The bank said that NaNakupy app users will have the possibility to pay online, easily manage the settings of different credit cards and monitor transactions made through mobile by the end of 2016.
Moreover, users will be able to virtualise loyalty cards and store receipts, or share shopping lists on a smartphone.
The mobile wallet will send notifications about goods warranty or insurance expiration dates, which will also be available to other banks’ clients who download the app to their mobile device.
CSOB member of the board of directors in charge of retail Petr Hutla said: “The CSOB NaNakupy application will be the first in the Czech Republic to offer its users mobile telephone payments to retailers regardless of whether they hold a MasterCard or Visa.
“We aim to simplify our clients’ lives, and therefore we decided to launch a solution where downloading the application and activating the service is enough.”