Banking service for accepting contactless payments on a smartphone is integrated with the STS’s service

Within the framework of the Memorandum of Cooperation concluded between the State Tax Service of Ukraine and Visa with assistance of the Oschadbank and the OschadPAY service is integrated with free software solution “Software registrar of calculated operations” and the fiscal server API of the controlling body (Unified window for electronic reporting).

Mobile application “OschadPAY” can be used during a settlement operation using a smartphone with installed Software RCO. To do this, a smartphone must support the operating system Android. Application allows to pay for received products (services) using contactless payments.

“STS continues to integrate the software RCO solution with banking services. Mobile application “OschadPAY”, which integrates with the software RCO, is another step in the development of cashless economy. Entrepreneurs will be able to install application on their smartphone and make contactless payments. This is a convenient type of payment which today is becoming increasingly popular among consumers. Moreover, such payment system will not require additional payer’s costs.” – informed Deputy Chairman of the State Tax Service of Ukraine for Digital Development, Digital Transformations and Digitization Nataliia Kalenichenko. 

Representatives of the Oschadbank and Visa also spoke about the benefits of contactless payments and convenience of the OschadPAY service.

“OschadPAY based on the VisaTaptoPhone technology turns smartphone into a POS-terminal. There is nothing more convenient. No need to pay for terminal rent and install additional equipment. This is a practical and effective solution, especially for small business entities. It can be used at fairs, exhibitions, festivals, in the delivery of orders by courier services or in a taxi” – stated Chairman of the Oschadbank Board Oschadbank.

In turn, Senior Vice President of Visa in Ukraine, Georgia, CIS countries and Southeast Europe Vira Platonova called the new service as an innovative project that makes payment process with the issuance of an electronic check easy and free for all participants.

“We present a solution advantages of which will allow retailers not to invest in the purchase of additional equipment and at the same time create a positive experience of convenient payment for customers. Payments with VisaTaptoPhone are fast, secure and profitable. We hope that the new service will gain a lot of fans and will largely work to increase a number of contactless payments in general” – commented Vira Platonova.

At the beginning of 2020, the State Tax Service of Ukraine and Visa have signed a Memorandum of Cooperation to improve the development of cashless economy in Ukraine, as well as support the development and joint implementation of projects to promote digital business and E-commerce.

Launch of new OschadPAY service for Ukraine into mass operation became possible after the successful draft project of Visa and Oschadbank, which began last year for the first time in the Middle East, Africa, Central and Eastern Europe, including Ukraine.

The OschadPAY integrated into a trader’s smartphone provides acceptance of contactless payments by cards and other NFC-devices – smartphones, smart watches, NFC-rings, etc.

More information and register in OschadPAY is by following the link: https://www.oschadbank.ua/ua/oschadpay