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April 22, 2021
BUSINESS BUSINESS COMPANIES ECONOMY FINANCE&BANKING

Visa extends mobile payments in Romania in partnership with Google Pay and 7 financial institutions

  • Consumers with Visa cards issued by Alpha Bank, Banca Transilvania, CEC Bank, ING Bank, Orange Money, Revolut and UniCredit Bank now have access to the Google Pay service within their mobile banking apps.
  • Google Pay is a free digital wallet compatible with Android devices equipped with NFC, enabling simple, secure and fast payments in physical stores and online.
  • With contactless transactions increasing across Europe, the Covid-19 pandemic has accelerated the global demand for easy, quick and secure digital payments.

Visa extends mobile payments in Romania in partnership with Google Pay and seven financial institutions, providing consumers and merchants alike with a convenient, simple and safe mobile payment experience.

Romania joins other 19 countries in Europe[1] that already benefit from Visa and Google’s touch-free mobile payment technology. Underpinned by Visa’s token technology, Google Pay allows for easy, quick and secure mobile payments – whether it’s at the shops, travelling to work or while shopping online.

Google Pay is underpinned by Visa’s token technology, which replaces sensitive consumer payment account information with a digital token and protects against fraud. With digital buyers expected to hit 2.1 billion worldwide by 2021, Visa’s tokenization technology is playing a vital role in strengthening digital payment security.

Consumers in Romania will now be able to activate Google Pay from within the existing bank apps of Alpha Bank, Banca Transilvania, CEC Bank, ING Bank, Orange Money, Revolut and UniCredit Bank, allowing them to make contactless mobile payments, irrespective of whether their card is contactless-enabled or not

The expansion of Google Pay to more countries and consumers in Europe comes at a time when contactless transactions in Europe are booming as more people embrace the ease of paying with a single tap. In fact, according to Visa data, over 80 percent of face-to-face Visa payments are now contactless, as of September 2020. In Romania, over 9 out of 10 payments with Visa by card or smartphone are contactless.

Contactless technology is the key to the development of mobile payments and Romania is very well positioned from this perspective, given that almost the entire payment infrastructure is equipped with NFC. More than 7 out of 10 Visa cards in Romania can now be used with Google Pay to pay online, in-app or on merchants’ websites, in stores at any contactless payment terminal or in the public transport. Thus, consumers will also be able to enjoy a simpler and safer shopping experience when using their mobile device”, Cătălin Crețu, General Manager for Romania, Malta, Croatia and Slovenia at Visa said.

“There has never been greater demand for simple, secure and helpful solutions to pay. We are pleased to continue the great collaboration with Visa to enable Visa cardholders – across participating partner banks – to access Google Pay through their respective mobile banking apps. Starting today everybody in Romania is invited to enjoy all the benefits that come with seamless payments online and in stores”, Florence Diss, Head of Payments Partnerships at Google said.

Besides these benefits, consumers in Romania will also be able to enjoy higher contactless limits than those available for contactless card payments – which is currently limited to 100 lei. This is possible due to Visa’s tokenization technology which provides an added layer of security to mobile payments, a press release remitted  to Nine O’Clock  informs.

[1] https://support.google.com/pay/answer/7454247

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