A new wallet app is intended for contactless payments at POS terminals via smartphone.
TBC Bank in collaboration with Visa and Mastercard have launched a new product, TBC Wallet.
An application created by Pri-Num, a UK-based company, Visa Ready Qualified Token Service Provider and Mastercard Digital Vendor, for the Android operating system aspires to replace an obsolete and insecure physical wallet with a modern and convenient digital one.
TBC Wallet allows customers to add their TBC Visa or Masterсard card to a digital wallet app and use their smartphones to perform transactions at any location with a POS Terminal, without having to get a payment card out of the wallet. Furthermore, customers can also review their transaction history directly in the app.
The versatility and immense potential of modern smartphones push forward the banks to broaden their digitization of the business processes to deliver more user-friendly products to a wider audience. With the help of Pri-Num, TBC Bank has leveraged a new trend in Georgia, earlier set by the world leading banks, which have been offering digital wallets to their customers for years.
“It’s an exciting day for Pri-Num and our partners as we continue to sculpt the innovative landscape in FinTech in Georgia.”Commented, Dr. Grigoriy Roginsky, Ph.D., Head of Project Management at Pri-Num.
According to Vazha Beriashvili, TBC Bank’s Deputy Director of Retail Business, it is very important to develop TBC Bank’s products and services by integrating new digital technologies.
“We are happy to have implemented this interesting project together with our partners. TBC Wallet will enable our customers to replace their physical wallet with a digital one, which will make transactions more comfortable and easier to carry out. We find customer satisfaction most important.”
TBC Wallet is powered by the Pri-Num’s Digital Enablement Platform – in-house software that manages tokens of both VISA Token Service (VTS) and Masterсard Digital Platform (MDES – Masterсard Digital Enablement Service).
About TBC Bank
TBC Bank is a leading company in the region. It is distinguished with its utmost care for its clients, constant striving for novelty and everlasting pursuit for development. Success of TBC bank is conditioned by well-developed and diversified service channels, efficient sales system and high quality of the services provided.
Founded in 2013, Pri-Num is a global financial technology company that creates mobile-centric software solutions for banks, retailers, mobile operators, transportation networks, sports, and entertainment. Pri-Num, which stands for prime numbers, is a leading financial and mobile technology provider, offering customers secure contactless mobile services such as payments, loyalty schemes, transportation, identification credentials, tickets, authorization and access control, and many more. Our partners include top financial institutions, including VISA, Mastercard, UnionPay International, and many others around the world.