Bulgaria: Borica – Bankservice launches MOBB m-payments service powered by Accumulate

Tuesday 8 October 2013 00:30 CET | News

Bulgarian national clearing house Borica-Bankservice (BO-BS) has launched a mobile payment service dubbed MOBB that makes the card mobile and that will set a technology standard for mobile payments in Bulgaria. The service is based on mobile technology, processes and methods from Swedish mobile payment services provider Accumulate.

With Mobb, the mobile phone can be used to manage and pay with cards. The service allows users to register multiple cards by various banks participating in the mobile service.

The mobile payment service includes services such as payment in shop, and is built on the existing infrastructure of POS-terminals and clearing and settlement systems. Payments are handled as ordinary card transactions, and the service works on most mobiles without the need for added hardware.

Also, with MOBB customers are enabled to make person-to-person (P2P) money transfers, lock/unlock card and set default card for purchases, as well as view balance statement or transaction history.

In the beginning, the service is set to be available on Android, iPhone and Windows Phone and later on Blackberry.

During a payment transaction, information such as card number, CCV, or expiry date, is neither transmitted nor stored on the mobile. All services can be added to, changed, or revoked without the need to re-download, re-install, or re-activate the mobile application.

In March 2013, Polish financial institution PKO Bank Polski launched a mobile payment service dubbed IKO based on Accumulate’s mobile financial services platform ME and Pera Mobile.

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Keywords: Bulgaria, Borica Bankservice, MOBB, m-payments service, Accumulate, P2P money transfers, lock cards, unlock card
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce