Contactless VISA mobile payments powered by MeaWallet

MeaWallet technology has enabled customers of the Serbian bank Komercijalna banka, also called Kombank, to perform contactless transactions at POS terminals. The bank launched this new feature on the 2nd February, 2017 to their mobile banking application, KOMePay.

Kombank is the largest state owned bank in Serbia. They have a strong and active strategy with a key focus on digital banking. In an interview published in November 2016 on b92.net, “Digital banking era has arrived”, the CEO of Kombank, Alexander Picker stated the following:

Digital banking is the next stage in the development of banking. It is already well-developed in Europe, and even more in the United States. An opportunity for the Serbian banking sector lies in leapfrogging classical banking and going straight for digital banking, because banking should develop in line with the clients’ needs (Picker, 2016).

The delivery contract is made between Kombank and Chip Card, a MeaWallet partner in the region. Lars Sandtorv, CEO of MeaWallet, is clear in his vision:

“Local representation in a global market is strengthening our go to market strategy – a combination of local market knowledge and state of the art technology from an independent supplier is one of the keys to success. At present, there is such a tremendous pull in this market for converged wallets, and the pull is still increasing. There is no doubt in my mind, that 2017 will be a fantastic year for contactless payments.”

MeaWallet is the ‘One-Stop-Shop’ for Mobile and Digital Payments.

Mea’s Mobile Service Platform is built to enable HCE/Tokenization, MDES/VTS, Masterpass and converged wallets. Built to support the big EMV schemes as well as local schemes, the platform can enable any wallet application and wear able device for mobile and digital payments.

MeaWallet is one of the world’s leading companies in the digital payment space, and one of few companies focusing 100% on tokenization technologies. MeaWallet is a part of the Seamless Group, and the company is listed on the Nasdaq Stock Exchange in Stockholm (SEAM).

Seamless is one of the world’s largest suppliers of payment systems for mobile phones. Founded in 2001 and active in 35 countries, Seamless handles more than 5.3 billion transactions annually through 675 000 active sales outlets. Seamless has three main business areas including the transaction switch, the technology provider for the distribution of e-products and the mobile payment platform Seqr.