Privatbank and Visa launched digital payment in suburban transport in the Kyiv region, the first was the Kyiv-Boyarka route. The technological basis for payment is the Terminal service. This was reported by the bank's press service.
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The application is based on Visa Tap to Phone technology, which turns modern smartphones or tablets based on the Android and IOS operating systems, equipped with an NFC chip, into a full-fledged POS terminal with the same strict security protocols.
Money transactions are carried out on the basis of EMV – an international standard for payment by bank cards, which assigns each transaction a dynamic cryptogram (“token”) that cannot be reused, and mobile devices provide an additional layer of biometric authentication.