First Investment Bank AD chooses MeaWallet for implementing an innovative cloud based mobile payment service

First Investment Bank AD will use MeaWallet’s mobile services platform to payment enable their existing mobile banking application and in compliance with the world’s leading payment schemes.

Barcelona and Oslo, Norway – February 26, 2015. First Investment Bank AD of Bulgaria has chosen to cooperate with MeaWallet to bring mobile NFC payments to their existing mobile bank users. The innovative 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 and Visa payWave payment transactions.

This will be one of the first commercial cloud based NFC banking projects in Europe and the plan for launch is after summer. The mobile bank users will be able to use the service globally at all EMV contactless compliant POS terminals covering millions of merchants.

“First Investment Bank AD is seen as one of the most innovative banks in the Balkan region. With the MeaWallet mobile payment service we will give our customers an attractive, secure and easy to use service to complement our already popular mobile banking app,” says Mr. Svetoslav Moldovansky, Executive Directorat First Investment Bank AD.

The popular mobile bank app will add mobile NFC payment from MeaWallet to existing use cases such as accounts balance and transaction history, bills payments, person-to-person payment and communication services. For future discussions is also to use the app for mobile payment for m- and e-commerce purchases.

“The partnership with First Investment Bank AD, which is a first mover and trendsetter in Bulgaria, further proof that our mobile technology platform and strategy, and in particular our focus on cloud based mobile payment solutions, including techniques like tokenisation, HCE and NFC, is paying off. We look forward partnering with the bank, and to support them on their continuous journey of enabling attractive and innovative mobile financial services”, says Lars Sandtorv, CEO at MeaWallet.

More information

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

Ivailo Alexandrov, Corporate Communications Director at First Investment Bank, +35928002753, i.alexandrov@fibank.bg

About First Investment Bank 

First Investment Bank (Fibank) is the biggest bank with Bulgarian capital which is developing and strengthening its position as a financial group with main business in the Republic of Bulgaria and regional presence through foreign operations in Cyprus and Albania.

Fibank is an innovative and customer-oriented credit institution that offers a diverse range of products and services for individual and corporate clients. With experience in corporate banking and broad presence in the market of retail banking, First Investment Bank is among the leading institutions in the country in card business and international payments. Fibank is preferred bank for savings of the population, which offers a high quality of customer service in accordance with the best banking practices. Fibank is among the pioneers in the business with investment gold and other precious metals with unique for the Bulgarian market products and services. First Investment Bank offers its customers advanced solutions and modern banking.

For more information, please visit www.fibank.bg