Method of Payment is taking a new look in Turkey as payment processor and merchant bank BKM is migrating its mobile-payments to a cloud-based payments where card payments will be connected with the cloud.
| Credit: Payment Week |
Cloud paymentuses host-card emulation, or HCE, to create a software reproduction of the physical card.
In December 2014, the bank released enhanced digital wallets tools in its BKM Expressplatform.
With the new system of payments, Turkish consumers will now be able to use their NFC-enabled mobile devices to make payments at compatible point-of-sale terminals throughout the country.
| Photo Credit: Transactional World |
The program is currently limited to customers of Turkish banks as a test. According to the bank, larger rollout of the service is expected in 2016.
Mobile payments platform was first launched by BKM in 2013, which simplified domestic and overseas money transfers to be made via mobile phones, thereby giving users more money transfer liberty.
The service allowed faster transfers between accounts, and has been adopted by hundreds of online and real-world merchants.
