With over 550 employees and $38.53 million in sales, Basisbank is an established member of Georgia’s banking industry. The bank is headquartered in Tbilisi.
Basisbank wanted to expand its range of innovative products and services by offering its customers a fast and convenient contactless payments solution. The new solution would eliminate the need for customers to carry their physical payment cards with them all the time. They would be able to use cards from the app and make payments on the go.
What we proposed
Pri-Num proposed Apple Pay as the perfect solution to bring Basisbank’s vision to reality. The bank would be able to tap into Apple’s significant user base through the mobile payments service, thereby increasing their brand loyalty with Basisbank.
How it worked
For Apple Pay, convenience, simplicity and security is above all else. It transforms the way people look at mobile payments and inspires confidence through its commitment to privacy and security. Customers’ payment card information is not stored on Apple’s servers and not shared with the merchant when the transaction is made. A transaction-specific token is issued through the Visa security system for every transaction. This allows the merchant’s terminal to process the transaction without requiring access to the actual payment data. Customers are thus able to use their Apple devices like iPhones and Apple Watches to make contactless payments online and in all retail stores that accept this payment method. Transactions are only processed once authenticated by the customer either through a passcode or through biometric authentication methods such as Touch ID and Face ID.
Card networks’ support
Georgia was the first country in the region to adopt Apple Pay in the South Caucasus region in 2019. It’s a bona fide leader in the adoption of new payment technologies. An impressive 95% of all transactions in the country are contactless.
This joint effort by Pri-Num, Visa and Mastercard has enabled Basisbank’s customers to make secure and fast mobile payments using Apple Pay. Customers can now store their Basisbank credit and debit cards in the Apple Pay app and make payments anywhere these cards are accepted.
Working with Pri-Num
Pri-Num has a rich history of supporting the advancement of Georgia’s mobile payments industry. It has helped 3 of the top 5 banks in the country roll out innovative new products and services. The solution it provided Basisbank was based on Pri-Num’s ITS Platform that makes the rapid deployment of digital payments services possible. Pri-Num worked on the technical implementation of this project and aided Basisbank, Visa and Mastercard through every stage of the project.