Home Tech Privatbank launches contactless payment using NFC tags in Ukraine: what it is and how it works

Privatbank launches contactless payment using NFC tags in Ukraine: what it is and how it works

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Privatbank launches contactless payment using NFC tags in Ukraine: what it is and how it works

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PrivatBank launches new technology of contactless payment by NFC-tags in Ukraine

PrivatBank announced the start of work on the launch in Ukraine of a fundamentally new technology for contactless payment by smartphones with NFC-tags. Today, this technology is the easiest and most affordable way for businesses to accept contactless payments. It is designed for entrepreneurs and small outlets, catering companies and allows you to pay for purchases and services in one click using a smartphone.

To connect the service to entrepreneurs and outlets, it is enough to make an online application at the bank and get a set of special NFC-tags, which can be pasted in a convenient place for payment.

The process of payment by NFC-label is extremely simple and convenient – the buyer only needs to attach his smartphone with NFC to a special payment “label” located at the checkout or directly at the service point (such as a table in a cafe), and complete payment via Privat24.

According to the bank, since December 21, 2021, the new service has been launched in test mode and is undergoing “combat” testing in retail outlets and catering establishments in Kyiv and other regions of Ukraine. After the beta testing of the service, all customers of the acquiring service will be able to activate the payment to NFC-tags through the personal account of the service or “Privat24 for business”.



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