Visa Europe and Akbank -one of the big fives in Turkey- announced the first MicroSD based contactless payment application in Turkey. Akbank, Visa Europe and DeviceFidelity attended the press conference.
As I already mentioned in a previous post, DeviceFidelity’s MicroSD product is a solid solution, especially for Turkey where contactless reader penetration is almost like %2 of total POS terminals -around 32.000 contactless readers are already installed. The projected target figure is %5 of total number 1.800.000 terminals. More than 2.200.000 Visa&MasterCard contactless credit cards have been issued in Turkey by 10 different banks. Contactless usage is on constant increase but not as much as anticipated.
I was unofficially informed that only Blackberry is supported for the time being, but I was unable to confirm it.
It’s a great success for Akbank to commercially launch a handset based payment application. Now I am waiting for the announcement of the availability of the application process as an Akbank customer, which will be by the end of this year!