Raiffeisen Bank Aval, Visa, «MTS Ukraine» mobile network operator and Pay-Me introduced in Ukraine the mobile terminal Pay-Me – an innovative solution for receiving banking cards payments, the bank representative told Roomian.org today.
Mobile acquiring service Pay-Me is a new B2B-solution allowing retail merchant to receive payments from its clients – bank card holders – any time from anywhere.
Due to its mobility and affordable cost of the mobile terminal, the service is a perfect solution for internet-shops, retail, insurance and real estate companies, courier services and taxis, delivery services, autoservices, mini-hotels, as well as for the private enterpreneurs – notarys, translators and city-guides.
Mobile terminals are available for sale in all the branches of Raiffeisen Bank Aval and retail service centers of MTS Ukraine mobile service provider.
In terms of number of POS-terminals installed, Raiffeisen Bank Aval is ranked the second (16,8k) giving the way only to PrivatBank (105,9k). It’s followed by state-owned Oschadbank (12,4k) servicing such major networks as McDonald’s, Finance & Credit Bank (12,1k) and the Ukrainian subsidiary of UniCredit – Ukrsotsbank (almost 6 thousand terminals.)
According to the Ukrainian legislation, starting from the Sept, the 1st, 2013 all cash payments have been limited in amount by UAH 150k. Further tightening of this limit will stimulate the mPOS market development in Ukraine. Moreover, any merchant is obliged to enable banking card usage in settlements with customers technically by equipping his points of sale with POS terminals. Otherwise, the merchant may be fined for non-observance of this rule.
Security is the key advantage of this solution. The cardholders’ data is protected by a special encryption chip inside the device. So, the data, arriving via Pay-Me App on the merchant’s smartphone in encrypted form, are transferred to the processing centre of the Raiffeisen Bank Aval through the mobile channel owned by «MTS Ukraine» mobile provider. The data are decoded in the bank, and consumer’s payment card is charged according to the bill. Pay-Me technology complies with PCI DSS standards and is approved by Visa.
Last summer, the Russian start-up Pay-Me opened an office in Kiev to develop mobile payments solution for companies and private entrepreneurs (mPOS) in Ukraine.