All the news/developments about Garanti and the banking sector.All the news/developments about Garanti and the banking sector.

Put a credit card in your mobile phone with “Mobile Wallet”

In yet another of the series of successful and innovative collaborations undertaken in Turkey by GarantiBank, Turkcell, and MasterCard, Garanti’s “contactless” payment card Bonus Trink is now entering your mobile phone thanks to “Mobile Wallet”. At the end of what is planned to be a six-month market trial, users will be able to perform all of the transactions that are possible with a GarantiBank Bonus Trink Card using any mobile phone that is connected to the Turkcell network and is equipped with MasterCard PayPass technology. Mobile Wallet reduces payment times to less than half a second. As with the Bonus Trink Card, which requires no PIN, transactions are currently limited to a TRL 35.00 cap. Payments more than that can still be made as usual by entering a PIN. And of course all installment options and Bonus point features remain in effect.

The results of the market trial will be used in the “Mobile Money” projects undertaken by the GSM Association (GSMA), an international organization that represents the interests of the worldwide mobile communications industry, to develop standards.

This project, which is being undertaken in Turkey jointly by Garanti and Turkcell, makes it possible for information about credit cards and the world’s biggest merchant partner network to be loaded into a SIM card over a GSM network.