IBA Group Implements TapXphone Payment Solution in Azerbaijan
In cooperation with the multinational financial and payment card company Visa, IBA Group implemented a tapXphone project in Azerbaijan. Kapital Bank was the first to introduce a new service in the country. TapXphone is an IBA Group’s contactless payment solution certified by Visa. The solution served as a basis for the Mobile POS service turning an Android smartphone or tablet with the NFC feature into a full-fledged POS terminal.
Mobile POS is designed for small and medium-sized entrepreneurs who run retail shops and service outlets, including hairdressers, couriers, taxi drivers, and owners of kiosks or cafes. Users can activate the new service remotely without visiting a bank. To accept payments, users need an Android smartphone with NFC functionality. Customers, in turn, can quickly and securely pay for goods and services with a contactless card, phone, smart watch, fitness bracelet, or other NFC-enabled device.
The newly launched payment solution allows entrepreneurs to accept contactless payments in a simple and convenient way. This is a great alternative to classic POS terminals, especially for businesses that require mobility and flexibility.
About Kapital Bank
Kapital Bank is a financial institution with the largest service network in Azerbaijan. The bank provides financial services to more than 3,000,000 individuals and 22,000 legal entities. Kapital Bank participates in a number of social state programs – social programs of the Government of Azerbaijan and in programs for the development of the real sector of the country’s economy.
This is the second implementation of the tapXphone payment solution in 2022. In February this year, the service became available to clients of maib, the largest bank in Moldova.
To date, the tapXphone geography includes Belarus, Ukraine, Kazakhstan, Moldova, Slovakia, Latvia, Lithuania, Estonia, Serbia, Bulgaria, and Azerbaijan. By the end of the year, IBA Group intends to deploy tapXphone in a number of European countries.