Cardholders can transact with the peace of mind knowing that their account information is protected
Kuwait Finance House (KFH) has partnered Visa to launch KFH-Wallet, a mobile wallet payment service for the bank’s Visa credit and prepaid cardholders.
Waleed Khaled Mandani, Group Chief Retail and Private Banking Officer at KFH, said this is another important milestone for KFH in our effort to continue providing better customer experience and more flexible payment options for our customers when using our cards payments solutions, reported Zawya.
The KFH Wallet service is powered by Visa Token Service, which makes mobile and online payments more secure and convenient by replacing the consumer account information with a digital identifier or ‘token’ unique to the mobile device.
The new service enables customers to pay for their purchases by tapping their smart phones at Point of Sale (POS) terminals equipped with Near Field Communication (NFC) technology.
The service is similar to Apple Pay and Samsung Pay and other mobile payment services that are currently being introduced by banks around the globe. The transactions are EMV-compliant and will offer additional security that requires users to enter a PIN or a fingerprint ID before completing the transaction.