Finnish IT services provider Tieto and financial institution Raiffeisen Bank have teamed up in Bosnia and Herzegovina to provide contactless payment services for Visa cards.
With the Card Suite solution developed by Tieto, Raiffeisen Bank Bosnia and Herzegovina was able to introduce contactless cards in the market with an option of gradual credit repayment. This option was implemented via the Tieto’s Card Suite Instalments solution.
This expansion of the bank’s services provids cardholders with an opportunity of not only making quick payments by tapping the terminal, but also gradually repaying the card’s credit balance. When a purchase amount is less than the set limit, cardholders will not be required to enter their PIN, but if the purchase limit is exceeded, then an additional security measure like PIN entry will be required for successful authorisation.
Founded 1968, Tieto is a Finland-based IT services company focused on services for both the private and public sectors and product development services in the field of communications and embedded technologies.
(Source: thepaypers)
