Raiffeisen Bank in Bosnia and Herzegovina and Visa yesterday announced the launch of a new “m-pay” digital service that allows secure, contactless payments via smartphones on any POS device that supports contactless payments.
“Our offer is now richer for another digital service – ‘m-pay’, through which clients can make contactless payments on POS devices using just a smartphone or a card-based application. In order for the client to make the payment, it is essential that their smartphone is placed in the immediate vicinity of the POS device. The advantage of such customer service is simple payment that saves time, and customers do not have to worry about cash or have their cards with them,” said Karlheinz Dobnigg, CEO of Raiffeisen Bank BH, and expressed his satisfaction with the fact that Raiffeisen is the first bank in the Bosnian-Herzegovinian market to offer such an innovative type of service to clients.
Since entering the BiH market, Raiffeisen has always kept pace with technological advances and world trends, which makes it a pioneer in the digital banking segment. The Bank is actively working on the development of modern solutions in order to make it easier for its clients to carry out transactions on a daily basis.
Andrei Aleikin, Head of the Digital Solutions Sector, said: “Contactless transactions via smartphones have a tremendous impact on the development of digital payments, and Visa Token Service makes them simple and secure. Near Field Communication (NFC) technology and Visa contactless payments ensure fast, secure and easy purchase. Visa Token Service secures any contactless mobile phone transaction – replaces sensitive user account information with a combination of digits – ‘a token’ – unique to a particular card and device. Payments are made using tokens, so card information are never exposed, adding another layer of security to digital payments.”
The m-pay service is currently available to a certain group of Bank’s clients, and by the end of the month it will be available to all holders of VISA cards issued by Raiffeisen bank.
The service was implemented in collaboration with Pri-Num Ltd, a supplier for digital payment platforms and mobile wallets, based in the UK.
