SOFIA (Bulgaria), November 24 (SeeNews) – Norway’s MeaWallet, part of Seamless Distribution, said on Friday it has signed an agreement with Bulgaria’s First Investment Bank (Fibank) [BUL:5F4] for delivery of its mobile HCE payment solution to the lender.
The order value of the contract is 300,000 euro ($356,000) over a five-year period, MeaWallet said in a statement.
In 2016, Fibank launched a mobile HCE payment solution using MeaWallet’s Cloud-Based Payments Platform but has now decided to replace it with a newer version, according to the statement.
“For Fibank a versatile and open solution with which we can grow and continuously add additional functionallities for our customers is of great value,” Svetoslav Moldovansky, executive director of Fibank, said. “We are implementing the new product, Mea Token Platform for MDES from Mastercard and VTS from Visa, but can at a later stage expand to other areas as well.”
The Mea Token Platform is a versatile platform for mobile payments which offers banks and other issuers a single point of integration towards multiple payment schemes, such as Mastercard, Visa and American Express.
Seamless is a global mobile payments company that provides electronic top-up systems and mobile payment services for mobile operators, distributors, retailers and consumers.
Founded in 2001 and active in 35 countries, Seamless handles more than 5.3 billion transactions annually through 675,000 active sales outlets.
Fibank was Bulgaria's third largest lender by assets as at end-September, according to data from the country's central bank.
($ = 0.8427 euro)
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