NFC TIMES Exclusive Insight – Russian telco MegaFon began issuing virtual Mastercard-branded bank cards yesterday, which its users can add to Apple Pay or Samsung Pay mobile wallets.
Although in most markets, mobile network operators have opted to largely abandon the mobile payments space to OEM- or OS-based mobile wallets such as Apple Pay, Android Pay and Samsung Pay, or to banks’ or merchants’ own branded mobile payments apps, MegaFon is trying to maintain involvement in the process from a different angle, by issuing a mobile phone account-linked virtual bank card for its users to add to Apple Pay or Samsung Pay.
The telco, working with Round Bank, has issued contactless Mastercard-branded bank cards from its retail outlets since August 2016, and by the end of 2017 had issued 1.2 million of the cards, which are prepaid and linked to users’ mobile phone accounts. Users add money to their MegaFon accounts to top up the bank card.