NFC Times Exclusive Insight – The Georgia subsidiary of Russia-based VTB Bank has launched an NFC mobile-payments service using host card emulation, an implementation that featured a quick ramp-up, according to the HCE vendor on the project.
A spokeswoman for the vendor, Ukraine-based start-up PriNum, told NFC Times that the VTB’s Mobile Pay service works with Visa cards and uses what is known as alternate PANs for tokenization.
PriNum said it geared up for the service in only three months leading up to the official launch Oct. 9. Georgia is a small contactless hot spot in far Eastern Europe, where 20% of face-to-face transactions on Visa cards were conducted with contactless Visa payWave as of last December, according to reports.