News from Garanti Bank
Garanti Bank launches the first contactless payment device in Romania
November 21 2008 - Garanti Bank launches the first contactless payment device on the Romanian banking market, equipped with MasterCard with PayPass technology. This technology allows its users to make small value payments in a fast manner, only through tapping the card on a contactless PayPass reader. The contactless payment devices incorporate a contactless chip that communicates with the payment accepting device through radio waves.
"We are glad to bring in Romania the contactless payments technology, which attracted in Turkey more than 200,000 users in only 2 years since its launch. We are convinced that the ease of making small value payments provided by this technology will be very attractive for the Romanian market, as it is a very dynamic one and opened towards new technologies.", Berat Icinsel, General Manager of Garanti Bank, stated.
"Using contactless technology, our clients will be able to make faster payments for small items, without the need of entering PIN codes or authorizing the transactions." Ilgaz Kaya, Cards Director, Garanti Bank, stated.
Using MasterCard PayPass technology, Garanti Bank clients will tap the payment devices on a reader device equipped with PayPass technology in order to make payments of up to 25 EUR. In the first phase contactless payments will be realised at 10 KFC restaurants out of which 7 in Bucharest, 2 in Iasi and 1 in Brasov. They will be available for start in sticker shape, and will be offered to the clients in a later stage in the shape of key chain, watch, standard credit cards.