TBC Bank, a leading Georgian universal bank, and GoSwiff, a global mobile payment and marketing solutions provider, announced today the launch of a new mobile payment service for Georgian merchants – which is expected to commence by the end of November.
This new mobile point of sale service (mPOS) is specifically created for merchants who do not have access to the relevant infrastructure, or sufficient revenue, to use traditional point of sale (POS) services. This not only allows a greater number of merchants to accept digital payments, but also improves the shopping experience for consumers.
Paying with mPOS is faster than paying in cash, and means there is no waiting for change, which makes the checkout process easier and more time-efficient. Consumers can simply tap their contactless card in front of a secure reader to make quick and low value purchases.
TBC Bank has a fast growing client base, and saw the opportunity to better serve their clients via an enhanced card payment acceptance system based on the latest technology. After evaluating a number of options, TBC Bank selected GoSwiff due to the company’s extensive experience in implementing similar solutions in multiple markets, and its ability to adapt its mobile payment solutions to meet local requirements.
“GoSwiff’s white label solution was perfectly aligned with what we were looking for in an ideal mPOS solution, and the breadth of their value added services included was a big bonus. GoSwiff has a strong presence in emerging markets, including the Caucasus region. All of this made our final selection easy,” said Vazha Beriashvili, Deputy Retail Banking Director, TBC Bank.
The new mobile payment service is based on GoSwiff’s payment acceptance platform, which is designed to suit the needs of a range of clients, from one-man outlets to large companies. The platform has all the elements TBC Bank requires, including reliable near field communication (NFC) card readers, easy to use mobile application, merchant reward
programs to encourage transactions, consumer loyalty tools to better engage with customers and the latest addition on the platform: product catalogues. With this new functionality, merchants can manage, display and track product items and create promotions on their online portal – targeting consumers in a more efficient and creative manner.
The new service being introduced by TBC Bank will have the capability to read and accept a full suite of credit cards - from Visa (including payWave), MasterCard (including PayPass), Maestro, and local Georgian cards.
“Being selected by one of the leading banks in Georgia demonstrates our capabilities in different markets and further expands our reach in the Caucasus region. We are confident that our offering will benefit Georgian consumers, merchants and banks - increasing the convenience and quality and quantity of card transactions in the country,” said Stefano Diemmi, COO of GoSwiff.