RCB Bank and Mastercard launch innovative tokenization solution

14 October, 2019

RCB has added its flagship Mastercard multi-currency card products on its Digital Wallet, becoming the first bank in Cyprus to introduce Mastercard Digital Enablement Service (MDES). MDES is a service that allows banks to manage tokenization and digitization, in order to ensure security for every transaction from a variety of connected devices through a tap, touch or click. The RCB Digital Wallet with Mastercard will be applicable also for RCB’s Luxemburg branch customers.

Igors Golovkins, Head of Card Products Business Development, said that the development is an extension of RCB Digital Wallet, available on Google Play for Android devices. “Last year, we became the first bank on the island to unveil a Digital Wallet for contactless mobile payments utilizing Tokenization Services through an application. Now Mastercard holders will be able to use a device for physical payments. All RCB cards can be digitalized for mobile payments with smartphones”, said Golovkins.

On behalf of Mastercard, Aspa Palimeri, Country Manager for Greece, Cyprus and Malta, stated: “Nowadays consumers want to use smart devices in every aspect of their lives. Mastercard Enablement Service does just that. We are very happy that in cooperation with RCB, we are able to leverage our most advance security technology and provide maximum convenience and safety to our Mastercard cardholders”.

The RCB Digital Wallet allows customers to add RCB credit and debit cards in digital form in the mobile device in a few steps and pay in stores anywhere in the world with Android smartphones. RCB Digital Wallet mobile application provides transparent, fast and secure way to pay worldwide, with an Android phone using mobile NFC technology. The card details are not stored on the mobile device or transmitted during the payment. RCB will continue to expand its strategic digital transformation program and deliver innovative solutions and services to provide the best user experience for its customers.