Wednesday, April 17, 2024

kevin. Triumphs with First Account-to-Account NFC iPhone Transaction

 Dubai, United Arab Emirates - Tuesday, 16. April 2024 AETOSWire Print 

kevin.'s Innovation Sets New Payment Standard in the Wake of Regulatory Changes


In an event set to disrupt the in-store payment landscape, kevin., a pioneer in payment technology, has successfully conducted the first-ever account-to-account NFC transaction on an iPhone.

Video of transaction: link

In a financial world where convenience and security are paramount, kevin. has established a new pinnacle by executing the first non-Apple Pay account-to-account near-field communication (NFC) payment on an iPhone. This technological leap forward follows the European Commission’s pressure on Apple to democratize NFC access. It comes after years in which Apple's strict control over NFC technology in iOS devices had stifled third-party competition.

Pavel Sokolovas, co-founder of kevin., articulates the magnitude of this moment: “Breaking through the final barriers of NFC payments on iOS devices represents a true watershed moment. We’re immensely proud to be the first to provide account-to-account transactions using Apple’s NFC, giving consumers the power to choose how they pay.”

In January 2022, kevin. enabled this innovative payment method for Android users, a move lauded for its originality and drive towards an open payment ecosystem. Now, with regulatory changes in stride, kevin. swiftly attained authorization under Apple's NFC Entitlement Program and embarked on development in their controlled environment.

Six weeks following Apple's program launch, kevin. celebrated the successful execution of the experimental transaction in development mode, setting the stage for what could revolutionize Point of Sale (POS) interactions.

Sokolovas outlined the technical journey: “We’ve been rigorously developing within Apple’s architectural framework. Our team worked tirelessly to integrate our kevin. technical solution within Apple host card emulation (HCE), including security standards, transaction validation and so much more to create a seamless experience allowing users transactions from within their banking or wallet apps.”

The European Commission continues to monitor feedback from early developers like kevin. while anticipating the official commencement of broader NFC implementation. This scrutiny underscores the Commission's dedication to nurturing innovation and competition in the mobile payment sphere.

Looking ahead, the industry anticipates a surge in similar payment solutions following this initial success. kevin. has set a dominant precedent, promising an open market where consumers are no longer limited by device-specific payment platforms —reshaping how transactions are conducted worldwide.

Download: Kevin logo, image of Pavel Sokolovas and iOS transaction video: link