Yapi Kredi Bank and Turkcell trial mobile payments
29 April 2003 | 7059 views | 0
Turkish telecomms operator Turkcell is testing a new mobile payment service in cooperation with Yapi Kredi Bank and selected retail outlets, including fast food chains, mobile phone dealers, florists and Internet sites.
To transact on the handset, Turkcell subscribers who own a valid Yapi Kredi Bank credit card will send a string of encrypted code via USSD, including the code of the bank, the point of sale and the product to make a payment. Subscribers will receive a secure confirmation code, which will be entered into the system of the merchant to complete the payment. The payment will be charged to the predefined credit card.
Turkcell will initially be the carrier for mobile payments and will only charge for the SMS used for the payment.
The firm plans to expand the service to additional banks and merchant outlets in the near future.
Turkcell is the leading GSM operator in Turkey with approximately 15.7 million postpaid and prepaid customers. Data revenues, including SMS, comprise approximately 10% of Turkcell revenues as of the end of 2002