Company Launches eWallet in Mashhad

Local ICT company FANAP, affiliated to Bank Pasargad, has commercially launched its eWallet ‘Keypod’ in the eastern city of Mashhad.

The service was first launched in the northern Qazvin Province in October, according to a company press release.

Keypod is a companion application that makes use of Near Field Communication technology for making payments. The NFC system makes transactions possible by holding two electronic devices 10 cm apart.

The eWallet allows users to store multiple debit cards and bank account numbers on their smartphones. Through the service, instead of using debit cards, for conducting payments people can simply tap their handset on the NFC enhanced payment terminal.

Currently, Keypod is operational in major sales centers and urban transportation terminals in the two cities.