Tieto and MeaWallet help First Investment Bank to launch cloud-based mobile payments in Bulgaria

Tieto in cooperation with MeaWallet and its partners ABnote and SimplyTapp have helped First Investment Bank AD (Fibank) to introduce a cloud-based digital payment solution approved by Mastercard as the first bank in the region. The implemented innovations will improve customer experience for mobile bank users by enabling them to use smartphones for in-store payments. The Fibank customers will be able to use the service globally at all EMV contactless compliant POS terminals covering millions of merchants.

The mobile payment service is based on Host Card Emulation (HCE) technology approved by MasterCard. This is one of the first commercial HCE NFC banking projects in Europe.

“Fibank is glad to offer a novice product to it’s customers. Fibank’s mobile app customers using an NFC enabled Android handset can choose to add the digital card within the Fibank’s mobile app and perform a contactless payment in-store by tapping the device NFC-enabled POS-terminal to complete the payment, simple and secure” says Svetoslav Moldovansky, Executive Director at Fibank. 

“We are proud to be a part of this innovative product launch and support Fibank which is setting a new trend in Balkan region as of now” says Lars Sandtorv, CEO of MeaWallet. “Also we want to thank our partners ABnote, SimplyTapp and Tieto who have contributed with their technology, integration and and efforts to make it happen”.

 “In todays’ fast growing mobile commerce environment cloud-based payments are a highly demanded solution. This project again demonstrates that Fibank is among the leaders of innovative banking. We are delighted to support Fibank in this journey” says Maris Ozolins, Director of Cards, Tieto.

For further information please contact:

Maris Ozolins, Director of Cards, Tieto, phone: +371 6751 0000, maris.ozolins[at]tieto.com

Lars Sandtorv, CEO of MeaWallet, phone +47 909 55 111, lars.sandtorv[at]meawallet.com

IvailoAlexandrov, Corporate Communications Director at First Investment Bank, phone +35928002753, i.alexandrov[at]fibank.bg

Tieto aims to capture the significant opportunities of the data-driven world and turn them into lifelong value for people, business and society. We aim to be customers’ first choice for business renewal by combining our software and services capabilities with a strong drive for co-innovation and ecosystems. www.tieto.com

First Investment Bank (Fibank) is the biggest bank with Bulgarian capital which is developing and strengthening its position as a financial group with main business in the Republic of Bulgaria and regional presence through foreign operations in Cyprus and Albania. Fibank is an innovative and customer-oriented credit institution that offers a diverse range of products and services for individual and corporate clients. First Investment Bank is among the leading institutions in the country in card business and international payments. The Bank offers its customers advanced solutions and modern banking. www.fibank.bg

MeaWallet is a leading technology provider of end-to-end mobile digitization platform (as a managed service) and business components, enabling secure contactless and remote mobile services to banks, access control providers, mobile network operators and retailers.

In addition to providing our cloud-based digitization platform supporting tokenization and wallet application services, MeaWallet functions as a centre of excellence, with deep industry knowledge and experience within the fields of contactless payment, access, and cloud-based and mobile security. www.meawallet.com

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About Us

Tieto aims to capture the significant opportunities of the data-driven world and turn them into lifelong value for people, business and society. We aim to be customers’ first choice for business renewal by combining our software and services capabilities with a strong drive for co-innovation and ecosystems. Headquartered in Finland, Tieto has over 13 000 experts in close to 20 countries. Tieto’s turnover is approximately EUR 1.5 billion and shares listed on NASDAQ in Helsinki and Stockholm. www.tieto.com

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