Google Pay (previously named Android Pay) will further improve the consumer buying experience for the customers of Touch Bank, as the cardholders no longer need to present a card in store or when entering card details online. Furthermore, when a purchase is made with Google Pay , information about the card is not provided to the seller. Electronic payment security is ensured by a tokenization technology - instead of the client card details, a corresponding token is used, providing additional security.
Google Pay is an instant, convenient and safe payment service for purchases from any Android smartphone or tablet on websites and mobile applications that support Google Pay . Google Pay can also be used at any point of sales, simply by touching the NFC-smartphone to a contactless reader at the checkout.
"In just a few years, contactless payments have evolved from the technology of the future to a basic minimum for retail banks. The ability to pay for goods and services with a smartphone is the level of experience that digital bank customers expect. We highly appreciate Tieto for the successful project on connecting Touch Bank to the payment service Google Pay. Together, we managed to go through all stages of development and implementation of the project in the shortest possible time and give customers a long-awaited opportunity to use smartphones instead of more traditional means of payment," says Sergei Mozhaev, Head of Development of Banking Products at Touch Bank.
"Mobile payments continue to grow rapidly among consumers and banks. Banks are the preferred provider of mobile payment services as well as a provider of traditional and reliable financial services to customers. The use of Google Pay will enhance the experience and strengthen the loyalty and positioning of the Touch Bank brand as an innovative and future-facing financial institution," says Valdis Janovs, Director of Tieto Retail payments and Cards.
For additional information please contact:
Valdis Janovs, Head of Tieto Retail payments and Cards, Tieto, phone: +371 6751 0000, email@example.com
Alexandra Shpakova, PR Director, Touch Bank, phone: +7 (495) 739 20 83, ext. 3653, firstname.lastname@example.org
Touch Bank is a retail digital bank that entered the Russian market in April 2015. Touch Bank operates under the OTP Bank license and is an international project of the European OTP Group. The bank operates in the digital environment only and does not have its own offices or ATMs. The bank’s customer service is remote - through Internet bank and mobile application. Touch Bank offers a full package of financial products and services based on universal credit and debit cards VISA and MasterCard. Deposits and current accounts, free replenishment and withdrawal of cash through third-party devices worldwide, account management in different currencies, money transfers and payments, revolving credit line cards and cash loans, a loyalty program and other real-time personal money management tools are available in real time.
Tieto aims to capture the significant opportunities of the data-driven world and turn them into lifelong value for people, business and society. We aim to be customers’ first choice for business renewal by combining our software and services capabilities with a strong drive for co-innovation and ecosystems. www.tieto.com/digitalpayments