Implementation of NFC (near-field communication) technology

Effective from October of 2015, the first time in the region, JSC VTB Bank successfully accomplished NFC technology implementation project and introduced the innovation. The UFC provided technical support in the course of the project. This technological innovation allows the bank’s clients to use mobile pay service. NFC technology provides for information sharing between two NFC chip embedded devices located within the small distance from each other. By means of the NFC technology when bringing the phone close to payment terminal these two devices begin sharing the information. From the perspective of data security the structure of the mobile payment is quite safe.