Swedish mobile payment solutions provider
Seamless has partnered with the Romanian unit of Turkey’s
Garanti Bank to launch a mobile Quick Response (QR) code
payment network in Romania.
The system will initially be trialled in some
supermarket chain stores. Consumers will be able to pay for their
shopping by scanning a QR code – which consists of black modules
arranged in a square pattern on a white background – with their
smartphones. After a four-digit pin is entered, the phone will
process the transaction by connecting the merchant’s bank account
with the customers’ Garanti account.
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The bank is a subsidiary of Turkey’s second
largest privately-owned bank by assets, Garanti, which
has a history of adopting innovative payment solutions. In June
2010, Garanti partnered with Turkish mobile operator Avea to launch
Turkey’s first mobile NFC payment system. Since launching
operations in Romania in 1998, Garanti has issued more than 230,000
credit and debit cards.
Seamless chief executive Peter Fredell, said:
“The agreement with Garanti gives Seamless a very strong and
innovative partner in the banking industry of Romania. We are
honoured and excited about entering this collaboration and about
addressing together the large potential the Romanian market has for
mobile payments.”
QR code technology was invented in 1994 in
Japan. It is designed to decode information from labelled items at
high speed thanks to its two dimensional code. Seamless introduced
QR codes in the payment industry in November 2011. Mikael
Malmquist, investor relations representative at Seamless, told
Electronic Payments International that outside Romania,
the company is also testing the system in four McDonald’s
restaurants and some groceries stores in Sweden.
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