KazKom launches PayPass in Kazakhstan30 june 2014, 10:12
Kazkommertsbank has launched contactless payment system that uses mobile phones in Kazakhstan, Tengrinews reports citing the Managing Director of the bank Nurlan Zhagiparov.
The system is available only for MasterCard holders at present, but the bank plans to add Visa shortly. The idea behind NFC (Near field communication) is that soon all Kazakhstanis will be able to pay for groceries or at shops with their mobile phones.
“The technology is available for everyone. All the users of Homebank.kz online banking system can apply to get attached to the system. Later the service will be available to clients of BTA bank as well (after planned merger with Kazkommertsbank is complete),” Zhagiparov said.
According to Zhagiparov, the system is based on contactless MasterCard PayPass system with Sim-centric solution. It requires a NFC chip to be embedded into the sim-card on a mobile phone. The embedded chip and antenna enable consumers to wave their mobile phone over a reader at the point of sale, and radio-frequency identification makes the payments secure.
“New technologies are developing fast and we are glad that with the help of our partners we can implement them in Kazakhstan and make the lives of our clients more comfortable,” the Kazkommertsbank representative said.
The contactless payment system is available in a number of countries from Canada to Japan. It eases and speeds up small transactions. The system is especially useful for public transportation, taxis, supermarkets, restaurants, fast food chains, drug stores and gas stations.
Over 500 terminals that support contactless payments have already been installed in supermarkets, restaurants and other places in Almaty, Astana and other large cities of Kazakhstan.
Writing by Gyuzel Kamalova, editing by Tatyana Kuzmina