13:08, 17 October 2019 2294 views
Mastercard holders are first to use Pay Wallet
Mastercard and Russian Cardsmobile announce the launch of the Pay Wallet service allowing tap-and-go payments for purchases to be made simply, conveniently and safely on smartphones in Russia and globally. To use the service, it is necessary just to download the Wallet application and enable Mastercard payment cards in it.
Pay Wallet is already available for the holders of Mastercard cards issued by Alfa-Bank and MTS Bank. VTB Bank, Otkritie Bank, Rosselkhozbank, Megafon Bank and other banks will also join the service soon.
Pay Wallet allows the issuers to load existing cards on smartphones and “smart” wearable devices that support contactless payment technology such as key rings, jewelry with microchips and other gadgets.
Banks connected to the service can also issue payment cards digitally. In the future, their clients will be able to issue new Mastercard cards in the Wallet application, straightway in the mobile format.
Pay Wallet operates on its own universal tokenization platform certified by Mastercard and connected to the Mastercard Digital Enablement Service (MDES).