Alpha Bank partners Vodafone to launch mobile payments pilot in Greece
26 February 2014 | 2687 views | 0
Source: Alpha Bank
Alpha Bank and Vodafone, in partnership with Visa Europe and First Data, introduce Tap n Pay, the first mobile phone application for contactless payments in the Greek market
Tap n Pay, an innovative "mobile wallet" application, ensures a fast, easy-to-use and secure payment process, by taking advantage of new opportunities offered by the Near Field Communication (NFC) technology.
This ground-breaking application requires the use of a special Vodafone mobile SIM card, on which the Alpha Bank Enter Visa debit card, is stored. The Tap 'n Pay application enables contactless transactions in shops where contactless card acceptance terminals are in use, by debiting the bank account that is linked to the debit card.
In order to complete the transaction, users must hold their mobile phone within five centimeters of the contactless terminal, and the transaction will be completed securely in a split second, without requiring either a signature on a transaction receipt or the entry of a PIN number.
For purchases over Euro 25, a Passcode on the user's mobile phone will be required for authorization. In addition, the application allows users to use the Passcode protection for purchases of less than Euro 25, if they so choose.
Tap n Pay is being introduced in Greece as a pilot programme , offering to selected users the opportunity to familiarize themselves with the application and all its benefits. During the pilot phase, the Tap n Pay will be available on Samsung Galaxy Mini 2 and Samsung Galaxy S3.
Mr. Leonidas Kasoumis, Executive General Manager of Consumer Credit, Alpha Bank and Chairman of Visa Hellas stated: "Alpha Bank continues to innovate and pave the way for the provision of new pioneering products and services to its Customers. Following the implementation of the first contactless transaction on the Greek market in March 2012, Alpha Bank is now undertaking the first contactless transaction on a mobile phone (mobile payments), using the latest technology. The cooperation of Alpha Bank with Vodafone, along with the support of First Data and Visa in Greece, pavece, paves the way to developing a new 'ecosystem' for making moce, pavece, paves the way to developing a new 'ecosystem' for making mobile phone payments, which is expected to be the payment method of the future, both in the Greek and the global markets".
Mr. Dionysis Grigoratos, Business Commercial Director at Vodafone Greece commented: "Our aim at Vodafone is to offer services that enable our customers to enjoy unique benefits, utilizing the innovation, convenience and unique experience provided by mobile communication. The provision of pioneering electronic transactions, for the first time in the Greek market, forms part of this strategy. Tap n Pay represents the next step in the revolution that Vodafone technology and smartphones have brought to our daily lives. The full implementation of the Tap n Pay service will provide our customers with a fast, simple and easy way to manage their daily transactions by means of a straightforward process on their smartphones. Our partnership with Alpha Bank, with the support of First Data and Visa Greece, links the present with the future, creating the framework for a fast and safe environment in the most secure manner".
Mr. Nikos Kampanopoulos, General Manager for VISA Europe in Greece, Bulgaria and Cyprus, said:"Visa technology for secure contactless mobile transactions makes it possible to implement the first corresponding program in our country, in cooperation with Alpha Bank, a fact which adds Greece to the European map of countries where this Visa service is already provided. At European level there are 1.2 million contactless payment terminals, and related services are now widely available from member banks and our strategic partners. Visa Europe continues to provide innovation in this field, making contactless payments more convenient, fast and safer for everyday transactions, both in Greece and abroad."
Mr. Espen Tranoy, General Manager, First Data, Greece , added: "Consumers now expect a seamless retail experience, regardless of whether they purchase in-store, online or over a mobile device. The age of Universal Commerce is truly upon us and as a result First Data is enhancing its payments capabilities internationally to empower its clients. Alpha Bank and Vodafone have recognised the opportunities that mobile contactless payments have to offer in Greece and we are delighted to be working with the team to make this a reality for the Greek market".