Pivdenny Bank clients will be able to make purchases via contactless payments with the Mi Smart Band 4 NFC fitness band

MasterCard cardholders from Pivdenny Joint-Stock Bank will be able to pay for purchases contactlessly with Mi Smart Band 4 NFC – a modification of the popular fitness band with the contactless payment function.

This innovative product is the result of the joint efforts of Xiaomi and MasterCard and is available exclusively to MasterCard cardholders. The product was launched in partnership with ALLO, one of the largest marketplaces in Ukraine.

The Mi Smart Band 4 NFC has retained all the benefits of the standard Mi Smart Band 4: colour OLED display, record-setting self-sufficiency, water resistance up to 5 ATM, support for swimming tracking and music player control, but it also has an NFC chip, which allows you to pay for purchases using MasterCard contactless payment technology.

To set up contactless payment, you need to install the Mi Fit app on your smartphone and add a bank payment card on the appropriate tab (you can add up to 6 cards). To make a payment with the Mi Smart Band 4 NFC, go to the "Cards" menu, select one of the attached payment cards and hold the device over the payment terminal.

“This year, due to the COVID-19 pandemic, the main trend has been the transition to remote services and contactless payments. And this trend will continue to develop further. Many clients have realised that it is not necessary to withdraw cash or always have a bank card on hand, as now a smartphone or smart watch with contactless payment technology is enough for this. And today the list of devices that our clients can pay with has grown to include the Mi Smart Band 4. Pivdenny Bank always strives on behalf of its clients to keep up with all the latest trends in the Ukrainian market. Therefore, we make sure we’re constantly working to actively promote tokenisation among our clients in the future,” said Olga Kolomiets, Head of the Product Development Division of the Retail Business Department at Pivdenny Bank.

Payments with the bands are protected by MasterCard tokenisation technology, thanks to which the card number is replaced by a 16-digit token. The card data are stored in a securely protected NFC chip developed by the NXP company. Unauthorised access to this information is not possible, and in the event a band is lost, Xiaomi has provided a number of security measures that will protect the user's payment data from unauthorised access.