Visa tests new payment service unique to Southeastern Europe

For the first time in CIS countries and Southeastern Europe, Visa and Ukrainian Oschadbank announce the testing of a unique solution for receiving contactless payments on smartphones – Tap to Phone

Visa tests new payment service unique to Southeastern Europe. Source: press release

Visa and Oschadbank have joined forces to support small and medium-sized businesses in Ukraine, announcing the testing of a unique to Ukraine technological solution called Tap to Phone.

The technology, which is presented for the first time in Ukraine, CIS countries and Southeastern Europe, is designed to expand the possibilities for accepting digital payments and to speed up scaling, benefiting contactless payments users, trade and service enterprises and banks.

Tap to Phone from Visa and Oschadbank turns an Android-based smartphone with an NFC-module into a POS-terminal without the need for additional equipment:

  1. A seller enters the amount to be paid on their smartphone.
  2. A shopper taps their card against the back of the merchant’s phone.

This solution will facilitate the management of small and medium-sized businesses, as entrepreneurs will be able to expand the acceptance of the contactless payments, increase their customer base and minimize the cost of connecting to acquiring services.

At the same time, consumers will be able to pay for their purchases securely, quickly and conveniently.

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