Economy, Sci & Tech

New e-Wallet Service Unveiled in FINEX 2017

New e-Wallet Service Unveiled in FINEX 2017New e-Wallet Service Unveiled in FINEX 2017

An Iranian technology company Infotech unveiled its mobile wallet service during the 10th International Exhibition of Exchange, Bank and Insurance (FINEX 2017) in Tehran this week. The service enables customers to use NFC (Near Field Communication) technology for making payments, local technology website ICTNA reported. NFC makes transactions possible by holding two electronic devices 10 cm from each other. The Infotech has established the service in collaboration with MTN-Irancell, The country’s second largest mobile operator. Irancell was the first mobile operator to offer SIM cards supporting NFC services and now most banks working on projects to offer NFC-based payment services are collaborating with Irancell. Infotech also unveiled the beta version of its e-wallet companion application during the exhibition. The app enables users to keep track of their daily transactions. According to the company officials, the service will be launched soon.

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