M-payment: Scan to Pay with Garanti Bank

• Garanti Bank is again innovating in Romania with SEQR Mobile Payments, a QR-codes-based m payment app designed by the Swedish developer Seamless Distribution.

• Launched in November 2011 on Seamless’s proprietary platform SEQR, SEQR Mobile Payments allows Garanti Bank customers to pay in retail outlets through scanning QR-codes displayed by merchants. These codes are placed on POS devices, on e-commerce pages or printed on invoices. Transactions are PIN-validated and the corresponding amount is directly debited from the customer’s account.

• This solution (free for customers) could allow merchants to increase their revenue without having to invest in new equipment. Pilot experiments are under way in some big retail stores.

Source: Garanti Bank press release

• Seamless is also piloting SEQR in its home country, with the help of four McDonald’s and a small number of retailer stores. QR codes were invented in 1994 in Japan for tracking and archiving purposes; they have now been adapted to many contexts information, identification, payments, etc.

• Garanti’s subsidiary first set foot in Romania in 1998, and views this market as a promising ground for experimentation. These tests also come after other innovative roll outs were completed: contactless cards, e-banking security product, smart ATMs with cardless cash withdrawal feature, etc.

• Today, it relies on SEQR Mobile Payments’ ease of use to favour the development of the Romanian m payment market.

• Garanti Bank has been particularly active in the payment card sector: launching the first contactless card in Romania –PayPass compatible Bonus Card (2008)– and offering the WWF Bonus Card in 2010 (only environmentally-friendly card on this market).

• In May 2010, Garanti Bank, and partner telecom specialist Avea, announced the availability of its PayPass compatible mobile app, “Bonus Trink”, in Turkey.