Raiffeisen Bank, with the support of Mastercard, enabled the acceptance of cards via mobile phones or similar smart devices
In this way, entrepreneurs and legal entities of all sizes are now able to accept payment cards in an equally simple, secure and fast way as when paying on a POS device. This practically means that from now on, smartphones with the Android operating system can be used by retailers as POS devices.
With this, Raiffeisen becomes the first bank in Serbia to bring the Tap of Phone solution, ie RaiPOS to the domestic market, and Mastercard continues to support the development of advanced technological solutions in order to bring Serbia as close as possible to a cashless society.
“Entrepreneurs’ interest in the Tap on the phone service has been continuously growing in Serbia, and there is especially great interest after the introduction of card payments at markets. That is why Raiffeisen Bank’s business decision to make the Tap on the phone service available in our market is of great importance because it enables Serbia to get even closer to a cashless society, by providing small merchants with a smart solution to reduce costs and increase turnover through card acceptance. We are pleased that banks in the Serbian market recognize this service as one of the keys to keeping pace with the latest trends that customers are looking for, while security, ease of payment and impeccable user experience come first,” said Jelena Ristić, Country Manager Serbia, Montenegro, Bosnia and Herzegovina, Mastercard.
When the consumer wants to pay for a service or product, he puts his card or mobile phone on the merchant’s phone, whose application is activated and contactless payment is made in a few seconds. Payment confirmation is generated by email or SMS, with payment visible on a bank statement, so that everything works as when paying on a standard POS device.
Smartphones are already widespread in our country, especially those with the Android operating system, and just such a device is all that an entrepreneur, micro or small merchant needs to expand their business in just a few steps. After logging in to the bank, the merchant downloads the application to his device and enters the Code he received at the bank. The next step enables an NFC connection that already exists in Android phones and the Tap on Phone solution for accepting contactless payments is ready to use.
The benefits of using this service are immediately visible, so it is expected that many merchants, to whom it is available and more than affordable, will accept this solution and improve their business.
Mastercard as a technology company is there to enable and guarantee the speed and security of the transfer of funds from the end consumer to the merchant’s account. For small merchants, the speed of turnover and the guarantee of the collection are essential, and a higher share of electronic payments automatically means that it facilitates, reduces or even completely eliminates cash management and reduces the additional costs associated with it. In the world of future trade that is being formed today, it is important to reap the benefits of technology that are available and provide existing and future customers security, flexibility and the possibility of choices they expect.