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Tieto and Raiffeisen Bank provide contactless payments in Bosnia and Herzegovina Print E-mail
Wednesday, 18 February 2015

Tieto has helped Raiffeisen BANK become one of the first banks in Bosnia and Herzegovina to provide contactless payment services for Visa cards. With the Card Suite solution developed by Tieto, Raiffeisen BANK dd Bosna i Hercegovina was able to introduce contactless cards in the market with an additional option of gradual credit repayment. This extra option was implemented through the Tieto’s Card Suite Instalments solution.

This expansion of Bank services provided cardholders with an opportunity of not only making quick payments by merely tapping the terminal, but also gradually repaying the card’s credit. When a purchase amount is less than the set limit, cardholders will not be required to enter their PIN, but if the purchase limit is exceeded, then an additional security measure like PIN entry will be required for successful authorization. Thus, purchasing with a contactless card becomes fast and safe, and requires no physical interaction between a card and a terminal.

“Currently, contactless payments are in the spotlight on the payment cards market. With this extension of bank services, cardholders are able to use contactless card more actively, considering the additional measures provided, which gives cardholders confidence of safety when using a contactless card. We are happy to collaborate with Raiffeisen Bank Bosna i Hercegovina and we believe in the future of our successful cooperation”, says Maris Ozolins, Tieto Cards Director.

“We have had a very satisfactory cooperation with Tieto on this project and hope to continue our business relations in the future as well. We are happy that we have improved our service in this business segment, given the fact that payment process has been simplified for our clients, as well as for the merchants. As of the end of the last year, the Bank introduced its first contactless VISA Magic credit card which allows repayment to 36 monthly instalments”, says Karlheinz Dobnigg, CEO of Raiffeisen BANK dd Bosna i Hercegovina.

(Source - Tieto Press Release)  

 

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