Raiffeisen Bank has launched an Android NFC mobile payments service in Romania and the Czech Republic that uses Antelop Solutions’ digital payments and tokenization platform.
The bank, one of the largest retail banking groups in Europe with 25 million customers in 15 countries, now plans to make the service available in additional territories. It also plans to expand the service to include Antelop’s Strong Customer Authentication (SCA) solution.
„Customers in Bulgaria and Serbia will be the next to gain access to the RaiPay NFC payments service.”, according to NFC World.
The bank is also using Antelop’s Visa VTS and Mastercard MDES certified Issuer TSP Hub to offer Apple Pay to its customers in Slovakia. Work is also now underway to launch this service in additional countries.
“RaiPay is a new type of lifestyle banking and payment app, where NFC is the first key element,” explains Tomas Janitor, head of business and innovation at Raiffeisen Processing Center (RPC). “Our strategy is to launch our own digital payment service in Europe, with the aim of completely reinventing the way we interact with our customers.”
“We chose to partner with Antelop as they demonstrated unique technical expertise in digital payments and tokenization,” Janitor says.
“The quality of their PCI DSS certified VTS/MDES platform and their SDK security levels, coupled with their agility and responsiveness, meant that they were able to deliver an impressive time-to-market for such a complex, multi-country solution.
“Antelop is now a long term technology partner and we are already working together on additional solutions for RaiPay, including leveraging Antelop’s PSD2 Strong Customer Authentication solution for 3DS ecommerce payments.”
“We are honored to have the trust of one of the biggest banking groups in Europe and to be their long term technology partner for both digital payments and strong customer authentication,” says Nicolas Bruley, Antelop’s CEO.
“We’ve achieved great things together over the few months, working hand in hand with RPC and network banks, and this is only a start.”
„Though Libra has met with fierce resistance from central banks and supervisory authorities and might never see the light of day, in many other cases tech firms (both start-ups and established big players) have successfully captured bits and pieces of universal banks’ traditional value chain. This trend may only intensify in the coming years. In this environment, European banks remain squeezed.”