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TBC Bank Launches TBC Wallet for Payment at POS Terminals via Smartphone

TBC Bank has launched a new product, TBC Wallet, in collaboration with international payment systems.  An application created for the android operating system intends to replace a physical wallet with a digital one. TBC Wallet allows customers to add a TBC Visa or MasterCard card to their digital wallet and use their smartphones to perform transactions at any location with a POS Terminal, without using a payment card. Customers can also view their transaction history through the app.

Furthermore, customers can add various loyalty cards (accumulative and discount) in the TBC Wallet and easily use them in the partner companies.

Nowadays, when smartphones are becoming more and more versatile, the world’s leading banks are increasingly digitalizing their business processes to make their products user-friendly. By creating TBC Wallet, 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.

TBC’s Partners, Visa and MasterCard played a vital role in creating the TBC Wallet application. Their support contributed importantly to the completion of the project.

CIS&SEE Visa Acting Group Country Manager, Dmytro Krepak commented on the importance of the new product; “Visa is committed to ensuring that all Visa cardholders could enjoy simplicity, security and choice when paying. TBC Bank was among the firsts to offer its clients Visa contactless cards and stickers, Visa tokens along with award-winning mobile banking services and developing digital channels addressing the demand of the advanced customers in Georgia. TBC Wallet powered by Visa Token Service allows customers to use their Android phones to make payments as easy as they got used to with their cards and has the potential to help build further consumer awareness and demand for mobile payments in the country. We would like to congratulate our long standing partner with still another innovative milestone and look forward to celebrate the successful rollout of TBC Wallet adopted by innovation-hungry customers in Georgia”,

MasterCard Europe’s Georgia and Central Asia Country Manager Igor Stepanov   said TBC Wallet can be an important step to the convenient future without cash;   “Contactless payments enter a new stage of development when a smartphone becomes both, a universal tool of communication and enabler of secure contactless payments. Launch of TBC Wallet is an important step to the convenient and safe future without cash. Over the past year, the number of payments with MasterCard digital platform MDES increased more than 100 times globally, and we are confident that Georgia will further boost NFC-payments trend given the openness of Georgians to innovations”

TBC Wallet is implemented in partnership with Pri-Num, a UK-based company, Visa Ready Qualified Token Service Provider and MasterCard Digital Vendor.

“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. 

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.”

It is worth mentioning that the latest technologies have been used in the creation of the TBC Wallet, namely VISA Token Service (VTS) and MasterCard Digital Platform (MDES – MasterCard Digital Enablement Service).

TBC wallet is powered by the Pri-Num Digital Enablement Platform® – a comprehensive software solution deployed in-house, that provides and manages VTS and MDES tokens.

Generally, tokenization is the process of replacing the original payment credentials (16-digit account number) with a unique “digital account number” (token) which may be used to initiate payment activity for wallet transactions.

It is also important that TBC Wallet created with token services is preferable with its enhanced security. TBC Wallet application protects sensitive information of the card and apart from a comfortable and fast payment service secure payments are also available for customers.

The TBC Wallet application can be downloaded through Google Play. The application is free and does not charge any additional fees for transactions.  More information about the product is available at the TBC Wallet website.

TBC WalletYour mobile wallet!