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August 11, 2022
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OTP Bank launches OTP POSibil, an innovative application that transforms the mobile phone into a POS and allows accepting card payments

OTP Bank continues to develop the digital solutions portfolio offered to local customers by launching the OTP POSibil service, an innovative solution that allows bank cards to be accepted for payment and mobile phones to be used instead of a POS.

Through OTP POSibil, OTP Bank supports local businesses, offering a tool that allows on-the-spot payment acceptance operations, without the need for a classic POS terminal and without additional maintenance costs or consumables. The application is compatible with mobile terminals with Android operating system, mobile phone or tablet, and is optimal for use in courier and delivery activities, taxi transport services and entrepreneurial activities, where business mobility is a key factor.

OTP POSibil is implemented in partnership with Mastercard and Visa and incorporates the technology generically called “SoftPOS”, which offers mobility, speed and flexibility in the payment acceptance of contactless bank cards and alternative payment devices, equipped with NFC technology, all while facilitating collection operations.

“After announcing the inauguration of a new flagship branch in Timișoara a few days ago, now we come with another novelty: the launch of OTP POSibil. It is an innovative digital application, created especially for those who want to collect payments on the go, directly on their mobile phone, in a secure and fast way. Our OTP Bank growth strategy is therefore aimed at expanding the physical network, but at the same time we are developing modern and flexible online solutions, in line with the transformation of the general behavior towards shopping.

In addition, I cannot help but notice that the ratio of digital payments in our portfolio continues to grow steadily, being stimulated by refining digital channels and increasing confidence in the security of this type of banking transactions”, said Roxana Hidan, Deputy CEO and Head of Retail Banking Division, OTP Bank Romania.

 Transactions and digital payments account for 93% of all transactions in OTP Bank’s portfolio, in the case of individuals, and 97% of companies.

The new application is part of a digital tools series launched by OTP Bank, after in 2020 it introduced the Mobile Payments service in Romania, which allows payment with mobile phones or other compatible mobile terminals, through OTPay applications, for Android, and Apple Pay Wallet. At the same time, the OTPdirekt internet banking service and the SmartBank mobile application were updated.

The OTP POSibil application is installed on the mobile phone in a similar way to the OTPay mobile payment application and can then be accessed using the connection data provided by OTP Bank via email and SMS, according to the “Card Acceptance Agreement” previously signed with the bank.

Transactions are secured by encryption technologies specific to POS terminals, can be tracked directly in the application, and receipts are automatically processed in the user’s account on the next working day after the transaction.

 

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