The service, available through Russian Standard Bank’s mobile banking app, enables users of Samsung GALAXY S4 and Samsung GALAXY Note 3 to upload MasterCard prepaid contactless NFC cards issued by Russian Standard Bank into their smartphones. The smartphones can then be used to pay for goods and services using Tap & Go MasterCard PayPass technology.
Tap & Go MasterCard PayPass technology enables purchases to be made by tapping the smartphone on a MasterCard PayPass reader at the merchant point-of-sale (POS). PIN code authorization is not required for purchases of less than 1,000 rubles (EUR 20). The MasterCard prepaid contactless card issued by Russian Standard Bank has a validity period of one year and a limit of 15,000 rubles (EUR 320). The card can be funded with electronic transfers from other bank cards, namely the bank’s RS express service, or with cash, using the bank’s ATMs.
Consumers do not need to be clients of Russian Standard Bank to use the service as it is available to owners of NFC-enabled Samsung GALAXY S4 or Samsung GALAXY Note 3 mobile devices who download the Russian Standard Bank mobile banking app through Samsung Apps or Google Play stores.
To download the card, the user chooses the ‘PayPass card’ icon in the app menu, provides a mobile phone number and then receives a four-digit code confirming card issuance.
Once the card is issued and funded, the smartphone can be used to make purchases without opening the application or entering the security code. In order to switch to this mode, the user chooses the ‘Don’t enter the NFC Code’ option in the app.
All card credentials for making contactless payments are stored in the phone’s secure element and transactions are made in compliance with MasterCard payment system security requirements.
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