Mobile wallet developer PriNum last week announced it has developed mobile contactless payments system for FIDO Bank, the first among the Ukrainian banks, based on Visa's cloud-based payments standards, according to a press release.

 FIDO Banks users need to install an app and go through a one-time enrollment process on an NFC-enabled Android device, according to the announcement. 

"We have tried to build it around the principles of being simple, being rewarding and being secure both for customers and for merchants," Grigory Roginsky, director of PriNum, said in a statement. 

PriNum said the project was launched in cooperation with a retail group that own a network of supermarkets throughout Ukraine. 

All the users who download The PAY application will get a one-time bonus deposited into their digital card account and cashback for every purchase made with their mobile device.

"Consumer uptake of mobile payments will be correlated to the value add obtained from using mobile phones. Loyalty, which has already demonstrated to be a key factor in driving consumer payment choice, will be just as important for the acceptance of mobile payments," Roginsky said.