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A First Among State Banks from Vakıf Katılım: MobildePOS

02 Aralık 2019

Offering MobildePOS privilege to its customer in digital transformation journey, Vakıf Katılım aims to further facilitate the lives of the users with the application developed in cooperation with Samsung and PayCore.

Having brought together the sharing culture of foundations with public power and brought a breath of fresh air to participation finance world, Vakıf Katılım broke grounds among state banks in digital transformation journey thanks to its cooperation with Samsung and PayCore while offering innovative digital products to its customers.

Accordingly, Vakıf Katılım eliminated the dependence to ordinary standard POS devices and brought a new perspective to the POS world with its MobildePOS product that can be used by every segment of the society engaging in trade.

What is MobildePOS?

MobildePOS is Vakıf Katılım’s POS application which can be used by the employers or employees in a business through NFC-enabled smart phones. When the employer downloads the application, NFC-enabled smart phone turns into a POS device and can be easily used by the employees authorized by the employer.

Support to Current Account Deficit

Turkey imports thousands of POS devices every year and it causes foreign exchange deficit. In this context, MobildePOS application will prevent payment of millions of dollars to POS devices and provide significant contribution to the limitation of the foreign currency outflow. Looking after Turkey’s benefits first in all of its projects, Vakıf Katılım aims to relieve its customers of their dependence to POS devices and to significantly contribute to the current account deficit as well.

An end to unrecorded transactions

MobildePOS application, which offers both cost advantage and ease of use when compared to standard POS devices, will be able to be used by taxi drivers, e-commerce firms, companies engaging in field sales etc. By this means, persons and companies that make large number of transactions in small amounts but are not recorded in formal economy will enter into formal economy with MobildePOS application and unrecorded transactions will decrease accordingly.

Cost Advantage

Currently used POS devices require many costs such as device, field management, maintenance/repair and installation costs etc. The decrease in such costs thanks to the use of application will provide a great cost advantage to Vakıf Katılım and its customers.

A first among state and participation banks!

Underlining that they entered the sector as a digital institution which adopts and uses new generation infrastructures in a period where the world experiences revolutions and new technological transformations in the field of digitalization and all of their products and services are open to improvement in digital means, İkram Göktaş, the General Manager of Vakıf Katılım, said that “The world is passing through a fast digital transformation process. In this age, where different technological developments constantly occur, we make our investments mostly on digital projects. MobildePOS is only one of those important projects that we realized in this field. We feel proud that Vakıf Katılım is the first among the state and participation banks which uses a technological and practical application such as MobildePOS. This application can make all the transactions made by a POS device. Our customers, who have completed their contracted merchant applications, can download our MobildePOS application on their smart phones, complete the activation process within seconds and start to receive payment. Bringing the payment experience to the next level, our MobildePOS application will always stand by our customers thanks to its unique design and ease of use. We aim to put our MobildePOS product, which is currently under pilot application, into service for all our customers in the first quarter of the next year. At the same time, we will continue to develop new applications which will facilitate the lives of our customers. We would like to express our thanks to Samsung and PayCore families, our business partners that we collaborated during this process.”

DaeHyun Kim, the President of Samsung Electronics Turkey, said that “As Samsung Electronics, we support the digital transformation processes of the businesses and SMEs with our corporate solutions. MobildePOS application, that we develop in cooperation with Vakıf Katılım, sets a significant example in this respect. The security and sustainability of MobildePOS application is ensured by Samsung KNOX security platform and a solution standard is reached in compliance with international finance rules. The contracted merchants can receive contactless payments using their NFC-enabled Samsung smart phones just like standard POS devices. The contracted merchants can turn their Samsung smart phones or tablets into a POS device and receive payments from contactless cards, mobile wallets or wearable payment instruments using the application to be downloaded from Google Play. We are glad to put into practice such an innovative technology in Turkey in cooperation with Vakıf Katılım. In addition to durable devices which resist physical impacts, air temperature changes etc., our Note, S and A series mobile phones which resist water and dust in IP68 standard have NFC feature. As Samsung, we can offer a wide portfolio of products to the businesses and consumers who desire to benefit from MobildePOS services.”

Turgut Güney, the CEO of PayCore, stated that: “With the project we realized in cooperation with Vakıf Katılım and Samsung using PayCore Soft POS solution, we turn currently used smart phones and tablets into devices which can receive EMV based contactless payment without the need for any additional hardware in a fast, easy and secure manner. In other words; current smart phones and tablets in our pockets turn into EMV compliant POS terminals thanks to this technology. As a leading technology provider in digital payments in Turkey and the world, we feel proud of being a significant part of this game-changing innovation.”