Ukraine-based KredoBank has launched a digital wallet that uses host card emulation (HCE) technology to enable contactless mobile payments with Android handsets, and it’s backing the new service with a promotional campaign to win prizes on Facebook.
KredoBank is the first financial institution in the Ukraine to use Mastercard Digital Enablement Service (MDES) to build its wallet, leveraging HCE to store card credentials securely in the cloud, according to the release. KredoBank customers who download the new KredoPay app must receive an automated return call from the bank to verify their identities, KredoBank said in a press release.
To promote KredoPay, the bank is running a sweepstakes on Facebook with a weekly drawing open to all consumers to win new Samsung Galaxy handsets, portable speakers and headphones, the bank said in the release. The sweepstakes runs through April 21, 2017.
PrivatBank, another Ukrainian bank, in 2014 became one of the first in the world to announce an HCE-based digital wallet soon after Google unveiled the technology, which has since become widespread among banks seeking a streamlined path to supporting contactless payments for Android handsets.