No Limit in Contactless Shopping with Vakıf Katılım MobildePOS!

“Tap on Phone” technology developed by Mastercard, one of the pioneers of payment technologies, removes the collection limit in Vakıf Katılım MobildePOS application, which was put into use by Vakıf Katılım last year and which enables the businesses to use their android mobile phones with NFC feature as a POS device and carry out transactions with contactless cards.

Having brought together the sharing culture of foundations with public power and brought a breath of fresh air to participation finance world, Vakıf Katılım continues to put its signature under new technological innovations to facilitate the lives of its customers. The collection limit of TRY 350 in MobiledePOS application, which was put into use by Vakıf Katılım in 2020 and which enables the businesses to use their android mobile phones with NFC feature as a POS device, was removed by “Tap on Phone” technology developed by Mastercard, one of the pioneers of finance technologies.

Those who download Vakıf Katılım MobildePOS application on their mobile phones can make sales using their mobile phones in an easy, practical and safe manner. With “Tap on Phone” technology developed by Mastercard, contactless transactions above the amount of TRY 350 can be carried out in an easy and safe manner; thus, it provides cost advantage and all the costs required by POS devices such as device and field costs, maintenance, repair and installation costs etc. will be eliminated.

Vakıf Katılım MobildePOS, which operates with Near Field Communication (NFC) technology that is used in contactless payments and turns the smart phones into POS devices, accepts all the card payments with or without PIN.

“We have brought payment and collection experience to the next level”

In his statement, İkram Göktaş, the General Manager of Vakıf Katılım, said that “Last year, we brought in something new among the participation banks with Vakıf Katılım MobildePOS application which turns the mobile phones into POS devices and enabled the contracted merchants to carry out contactless transaction using their mobile phones without the need for a POS device. Today, we have enhanced this application with “Tap on Phone” technology developed by Mastercard, one of the pioneers of payment technologies, and brought the payment and collection experiences of the contracted merchants to the next level; and removed the limits in contactless card transactions.”

“We need to show more innovative approach”

Having emphasized that they continue to work in line with the vision to grow with technology, Mr. Göktaş continued his words: “The use of contactless card payments has increased by 2,5 times compared to the last year due to the conditions brought by the coronavirus epidemic. We need to show innovative approach much more than ever to respond to rapidly changing life and consumption habits. At this point, we have considered the provision of collection facility in payments and expenditures as one of the primary necessities of our customers and enhanced our MobildePOS application in cooperation with Mastercard. We are glad to see that the solution that we offer both ensures fast and efficient transactions and contributes to the decrease in current accounts deficit. We will continue to develop new solutions which will facilitate the lives of our customers in accordance with today’s conditions and necessities”.

Stating that Turkey is ahead of many countries in the field of technology adaptation thanks to its rapidly digitalizing finance sector, Yiğit Çağlayan, the General Manager at Mastercard responsible for Turkey and Azerbaijan, continued his words “According to ICC’s data at the end of March 2021, 78 million credit cards, 189 million debit cards and 47 million prepaid cards are used in Turkey. The card usage increases each passing day due to the effects of the pandemic period. People have gained the habit of online shopping, contactless shopping has significantly increased and we have started to receive financial services through mobile methods. As Mastercard, we benefit from the power of technology to increase the participation of Turkish businesses in digitalizing payment ecosystem. On this way to a cashless world, we aimed to remove all the limits and bounds in cooperation with Vakıf Katılım, one of the important actors of Participation Banking sector. We are so excited for this step which will increase the ease of use in card payments. We will continue to develop innovative solutions which will focus on savings in the forthcoming period.”