IBA Group Launches tapXphone with Yelo Bank in Azerbaijan
Yelo Bank became the fifth bank in Azerbaijan to offer its clients the ability to accept payments using the SoftPOS service based on the tapXphone solution by IBA Group. This provides the bank’s business clients with a simple and convenient solution for organizing payment acceptance through smartphones in just a few clicks.
Thanks to tapXphone, individual entrepreneurs, as well as small and medium business owners can accept payments using their Android smartphones without a traditional POS terminal. They simply need to install the tapXphone and Yelo Mobile POS applications on their phone and sign a contract with the bank. Payments can be accepted anywhere, provided there is an internet connection.
Customers can continue to make purchases as before by contactless bank cards, smartphones, smartwatches, and other NFC-supported devices. The security of transactions is guaranteed by certificates from international payment systems Visa and Mastercard.
We congratulate our partners at Yelo Bank on the launch of a truly technological solution. Its user-friendly interface, easy setup, and the absence of costly equipment will contribute to the active development of Yelo Mobile POS. We hope that the bank’s business clients will highly value the service, which allows them to set up business transactions in just a few clicks.
It should be noted that the tapXphone service was first launched in Azerbaijan in April 2022 for clients of Kapital Bank. In 2023, clients of Rabitabank, ABB Bank, and Bank Respublika also began using their mobile phones as POS terminals.
As one of the leading banks in Azerbaijan, Yelo Bank began its operations in 1994. Currently, the bank provides services at 19 branches and a self-service center located in Baku and other regions of the country. The bank’s headquarters are located in Baku.