Top tier bank selects MeaWallet and Chip Card for its cloud based mobile payment service

A European top tier bank, has selected MeaWallet and Chip Card to deliver a mobile payment service based on Host Card Emulation (HCE). With the new service customers will be able to pay just by tapping their NFC smartphones at all merchants that accepts MasterCard.

Oslo, Norway – March 26, 2015. A European top tier bank and part of one of the largest financial institutions in the world, has selected MeaWallet AS and its partner Chip Card a.d. Beograd to deliver a cloud based mobile payment solution. The target is to have the commercial launch together with MasterCard in Q4 2015/Q1 2016.

The new mobile payment service is based on mobile virtual payment cards using cloud based security and Host Card Emulation (HCE) technology. The end users just tap their smartphone at the merchant NFC-enabled POS-terminal to complete the payment. The service will work at all merchants that accept MasterCard PayPass transactions.

“This mobile payment project sets a mile stone in the region. We believe that the cloud based mobile technology and solutions from MeaWallet together with our already existing backend for card operations, soon will pave the way for more mobile payment projects,” says Vesna Džudovič, CEO at Chip Card a.d. Beograd.

Future steps and in discussion are the use of tokenization and using the smartphone for doing payments at m- and e-commerce sites.

“This deal is an important step for MeaWallet and our partner Chip Card, and will strengthen our position for the coming cloud based mobile payments projects in the region. We like to partner with innovative banks like this one and to support them in the enabling of new, secure and attractive mobile financial services”, says Lars Sandtorv, CEO at MeaWallet.

More information

Lars Sandtorv, CEO of MeaWallet, +47 909 55 111, lars.sandtorv@meawallet.com

Vesna Džudović, CEO if Chip Card a.d., +381 11 30 40 970, office@chipcard.rs

About Chip Card

With about 30% of market share, Chip Card JSC Belgrade is one of the leading centres for processing payment cards transactions and ATM and POS terminal operations in the Republic of Serbia. The company where incorporated in 2004, by the Association of Serbian Banks and 12 Banks.

Company strategy is to offer high quality processing services at lower costs of processing, and flexibility in satisfying diverse user defined requirements. Chip Card a.d.is committed in developing partnerships in all aspects of processing services (issuing, acquiring, eCommerce, mobile payment, etc.), quality of services, knowledge and experience of our specialists. For more information please visit www.chipcard.rs.