Alpha Bank Romania launches Alpha PhonePOS, an application that turns mobile phones into POS

Mihai Cristea 03/07/2020 | 13:48

Alpha Bank is the first bank in Romania to launch an application that turns your mobile phone into a POS. The solution is compatible with Android mobile devices and responds to the growing trend of digitization.

 

Alpha Bank Romania recognizes the essential role that entrepreneurs and freelancers have in the development of the local economy, their support being one of the fundamental objectives of the bank. By launching the application, the banking institution meets its needs to operate at an efficient and fast pace, opens the way to new opportunities for local business development and offers users more mobility.

Alpha PhonePOS can be used without any additional investment in equipment and consumables. With the help of this innovative application developed in partnership with Provision and supported by VISA, entrepreneurs and freelancers will be able to accept payments with contactless debit or credit cards or through devices equipped with NFC technology, such as phones, watches and smart bracelets.

The transactions made through the application will be made in complete safety, in line with the industry standards for contactless transactions, similar to a classic POS terminal and ensuring fast processing and access to payment history. These features make the application a cost-effective tool and save users’ time.

“The launch of the new digital solution for accepting contactless card payments will certainly be a revolution in the industry. We are thereby marking a premiere on the Romanian banking market, which is in the process of digital transformation. By launching Alpha PhonePOS, Alpha Bank will consolidate its offer addressed to Romanian entrepreneurs, providing them with one of the most advanced ranges of payment acceptance solutions currently available in the country,” said Cristian Dragoș, Executive Vice President, Retail Banking, Alpha Bank Romania.

“We are glad that, together with Alpha Bank, we are preparing to launch a very simple, innovative and secure solution for accepting contactless payments by any Romanian merchant who owns an Android phone. It is an advantageous service in terms of costs and flexibility, which creates new opportunities for a wide range of liberal professions in many fields, such as taxi, courier, or retail. Given the dynamics of the local market, the increased appetite of Romanians for technology, and that 9 out of 10 payments with Visa cards in Romania are contactless and mobile payments are gaining momentum, we are very confident that this solution will be successful and will help increase the degree of acceptance of electronic payments in our country,” said Elena Ungureanu, Country Manager Visa in Romania.

Following the global tendencies, Alpha Bank Romania is strengthening its stance on digital payments, in a period that saw a rise in this financial trend.

Some of the local innovations include: a first in “POS sharing”, developed together with Symphopay fintech -which is now available in the kiosks located in eMAG showrooms, a partnership with UnionPay partnership which accepts these cards to be used with the banks ATMs, the “Instant Money Bak” feature available on eMAG and Fashion Days platforms, taking part in the global VISA Instalments pilot program and last but not least, certifying the new POS terminals – Verifone Engage by collaborating with Printec Romania, process done at the same time with expanding the availability of the self-service banking feature done by activating the cash deposit option in the new ATMs.

The Alpha PhonePOS financial solution will be available to our customers in the following period, through a pilot program. This app covers the bank’s portfolio designed for entrepreneurs, decision which also supports the extension of our contactless payment solutions in our portfolio.

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