Electronic payment methods are gaining more and more ground in Romania, after the consumption experiences of the two years of the pandemic. Almost half of Romanians (47%) prefer to use electronic payment methods, even when shopping offline (traditional stores, points of sale, etc.). Only 45% of them still prefer cash payments, especially for amounts below 50 RON.
Romanians frequently make electronic payments for utility bills, for shopping in online stores, for the purchase of electronic products and home appliances, in pharmacies, gas stations, restaurants and even for the payment of taxes at public institutions. Over three quarters (77%) of Romanians perceive as modern, safe and hygienic a place for shopping, which offers the possibility to make electronic payments.
This is why the usability of applications that can turn the mobile phone into a card payment acceptance terminal (POS) has also increased. According to an analysis made by Global Payments, a world leader in the provision of payment technology services, in Romania payments of over 2.5 million euros were made through the GP tom application, in May and June 2022. The GP tom app allows merchants to accept card payments via mobile phone, thus replacing the classic terminal (POS). The app is compatible with all phones that have a superior Operating System of Android 8 and a built-in NFC chip.
“It’s a trend that has started to grow during the pandemic. More and more people have opted for card payment and more and more merchants have adopted methods for processing electronic payments. GP tom, our application, has done nothing but be a modern, affordable and flexible tool made available to those who have identified this need in the market. In Romania, we register a steady growth of about 50% in recent months in terms of payments processed through mobile phones”, declare Ionela Mitran, Head of Sales, Global Payments, Romania.
In June this year, payments were made through the GP tom app worth over 1.5 million euros (1,573,937 euros), and in May the threshold of one million euros (1,071,328 euros) was already exceeded.
In June, 50,103 transactions were registered through GP tom, and the average value of the transactions was 31.4 euros. In May, 44,613 transactions were registered, with an average value of 24 euros.
The largest payment made by card on the mobile phone, in June, was worth about 4,000 euros at an electric scooter showroom in Bucharest. In May, the highest payment recorded on GP tom was worth 7,100 euros to a company that provides interior design services and lighting sources.
“In Romania, we have approximately 3500 mobile devices on which the GP tom application works. Most payments are made at grocery stores and supermarkets, at hotels and resorts, at restaurants and fast foods, at auto parts stores or at the dentist. We observe a diversification of areas where electronic payment methods are frequently used, which, in turn, also require an offer of payment solutions made available by merchants. In our portfolio there are 222 categories of merchants using the GP tom app”, continues to support Ionela Mitran, Head of Sales, Global Payments, Romania.
GP tom was recently awarded at the European Merchant Payment Ecosystem (MPE Awards) conference in Berlin for the most innovative solution for accepting card payments in offline stores.
At the same time, 82% of Romanians agree that after the pandemic there are several places where you can pay by card, phone or other device, and half of them frequently make payments by card. Electronic payments are associated with a greater degree of spending control, reliability, accountability and freedom.