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ConcordBank, Visa and Portmone launch Pos Phone app powered by Tap to Phone technology

Visa payment system, non-bank payment platform Portmone and ConcordBank are launching a mobile POS Phone application in Ukraine powered by Tap to Phone technology, that allows entrepreneurs to use a smartphone as a POS terminal for accepting payments in one touch without additional equipment, as well as receive refunds to the account of any Ukrainian bank.

At the same time, the joint project implemented the most new approach for the Ukrainian market: a merchant uses innovative Visa technology via Portmone interface, while acquiring is provided by ConcordBank. Thanks to this cooperation, customers will be able to accept contactless card payments as easily as online payments.

Connection to the service is fast and completely online: just go through remote identification in Portmone, remotely conclude an agreement, install the application, log in to it and start accepting payments. The whole process takes a few hours. It does not matter in which bank the entrepreneur has a current account.

The advantages for buyers are the absence of additional commission in case of payment using credit funds and protection if services or goods have not been provided.

Ukraine became one of the first countries in the region of Central and Eastern Europe, the Middle East and Africa, where the Tap to Phone solution is implemented in cooperation between a bank and a non-bank payment platform.

“ConcordBank was among the first in Ukraine to introduce Tap to Phone technology in partnership with Visa. This became possible thanks to the efforts of not only the bank, but also our processing center ProCard, as well as the technology developer - IBA (Belarus). As the center of our fintech ecosystem, ConcordBank has consistently demonstrated its openness to the market for partnerships and collaborations with fintech companies. We are pleased that Portmone shares our values and also strives to provide innovative services to its customers, so we enthusiastically joined this joint project. We hope that this solution will help entrepreneurs to effectively solve their business problems, ensuring seamless payment acceptance.", – says Olena Sosiedka, Chairman of the Supervisory Board of ConcordBank and founder of the Concord Fintech Solutions ecosystem.

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