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ČSOB chooses SIA to launch the first mobile wallet with NFC technology in the Czech Republic

ČSOB clients are able to pay for their shopping by smartphone
using both MasterCard and VISA circuits
Thanks to SIA’s infrastructure, cards can be virtualized through Host Card Emulation (HCE) technology which stores data in total security
By the end of 2016, the new mobile app “NaNákupy” will allow payments on Internet, card management, transaction history viewing and sharing of shopping lists

csobMilan and Prague, August 1st 2016 – ČSOB, one of the largest commercial banks in the Czech Republic and part of the Belgian KBC Group, and SIA, a company specializing in the management of electronic payments, have developed and launched the first mobile wallet for NFC payments in the Czech Republic that supports both the MasterCard and VISA circuits.

The new mobile application “NaNákupy” enables ČSOB clients to make contactless payments to retailers by smartphone. Thanks to SIA’s infrastructure, debit and credit cards can be virtualized in the mobile wallet through Host Card Emulation (HCE) technology that stores data in total security, regardless of the mobile operator and without the need to apply for a new card or a special SIM card. Furthermore, the NaNákupy app allows payments without using mobile data or Wi-Fi connection and all cards are under a single PIN.

siaBy the end of 2016, new smart and useful features will be added to the mobile wallet. First of all, NaNákupy app users will have the possibility to pay on the Internet, easily manage the settings of different credit cards and constantly monitor transactions made via mobile.

In addition, it will be possible to virtualize loyalty cards and store receipts, or share shopping lists on a smartphone, for example exchanging them among family members.

The mobile wallet will also send notifications on goods warranty or insurance expiration dates. All of the functions will be available even to other banks’ clients who download the app to their mobile device.

“The ČSOB NaNákupy application will be the first in the Czech Republic to offer its users mobile telephone payments to retailers regardless of whether they hold a MasterCard or VISA,” says Petr Hutla, member of the ČSOB Board of Directors in charge of Retail. “We aim to simplify our clients’ lives, and therefore we decided to launch a solution where downloading the application and activating the service is enough – you can start paying with your mobile virtually immediately. All card-related benefits will be retained, of course,” explains Mr. Hutla.

“The Czech Republic has the highest proportion of retail NFC transactions in Europe and, therefore, is the ideal place for mobile payments. We are proud to have our long lasting relationship with ČSOB extended by the innovative mobile payment solution we have launched together. This is the first wallet in the Czech Republic and among the first on the international market to allow payment with both MasterCard and VISA through the same mobile app,” comments Nicola Cordone, Senior Vice President SIA.

About Československá obchodní banka (ČSOB)
The ČSOB group is the leading player in the Czech financial services industry. The ČSOB group is a part of the international bancassurance KBC group which is active in Belgium and the CEE region. The ČSOB group consists of the Bank (operates under the brands – ČSOB, Era and Poštovní spořitelna, Postal Savings Bank) and of entities related with the Bank. ČSOB’s financial group includes strategic companies in the Czech Republic controlled directly or indirectly by ČSOB, or KBC, which offer financial services, namely Hypoteční banka, ČSOB Pojišťovna, Českomoravská stavební spořitelna, ČSOB Penzijní společnost, ČSOB Leasing, ČSOB Asset Management, ČSOB Factoring and Patria group. ČSOB provides its services to all groups of clients, i.e. retail as well as SME, corporate and institutional clients. The ČSOB group is a good listener, who offers a suitable solutions, rather than mere products.

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About SIA
SIA is European leader in the design, creation and management of technology infrastructures and services for Financial Institutions, Central Banks, Corporates and Public Administration bodies, in the areas of cards, e-payments, network services and capital markets. SIA Group provides its services in over 40 countries, and also operates through its subsidiaries in Hungary and South Africa. The company has offices in Milan, Brussels and Utrecht.

In 2015, SIA managed 9.9 billion clearing transactions, 3.3 billion card transactions, 2.8 billion payments, 41.7 billion financial transactions and carried 358 terabytes of data on the network.

The Group is made up of seven companies: the parent SIA, the Italian companies Emmecom (innovative network applications for banks and businesses), Pi4Pay (advanced collection and payment services), TSP (front-end services for companies and P.A.), and Ubiq (innovative technology solutions for marketing), Perago in South Africa and SIA Central Europe in Hungary.

The Group, which has approximately 1,600 employees, closed 2015 with revenues of €449.4 million.
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