Baku, Azerbaijan, Sept. 5
By Huseyn Veliyev – Trend:
The Kapital Bank OJSC adapts its platform to launch mobile payment services Google Pay, Apple Pay and Samsung Pay, a source close to the project told Trend.
The source said the work in this direction is carried out in conjunction with the international payment system MasterCard.
"After the platform is adapted, these payment services will be available in Azerbaijan. The payment vendors themselves are ready to come to Azerbaijan, but the technological capabilities of banks do not yet allow to deploy those vendors’ services in the country. The negotiations on this issue have been held by banks with international payment systems Visa and MasterCard," the source said.
The mobile payment system Apple Pay allows for paying for purchases via NFC technology, in combination with the Wallet and Touch ID apps. The system operates by digitizing the user's bank cards. The payments can be made with cards using wireless connection from Apple devices instead of magnetic stripe.
Unlike Apple Pay, the mobile payments service Samsung Pay developed by Samsung Electronics Co., Ltd company supports not only NFC payments, but also the payment that is carried out by using the technology of electromagnetic transmission (MST), which allows to make payments using a terminal that supports only cards with a magnetic stripe.
The payment service Google Pay launched relatively recently by Google company is designed to replace the Google Wallet and Android Pay services. Google Pay will allow to settle accounts in shops, in the Chrome browser and voice-controlled assistant entitled as “Assistant” and third-party apps.
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