Bulgaria is one of the last places in Europe in terms of people using Internet banking services, but this is not a problem because it may not need to catch up with the leaders. The global fashion in remote banking is again ahead of our competition and now focuses on the field of mobile payments.
Phone payments are now not only limited to the well-known mobile parking fees in the blue zone. They are not text messages to donate to the support of patients, nor electronic banking transactions of the client’s bank. The essence now is that these new transactions will be truly mobile payments, where the phone does the job of a bank card.
The volume of mobile payments worldwide will increase in 2015 to over USD670 billion, say analysts from Juniper Research. Over the next 18 months in about 20 countries the feature NFC will be introduced (communication technology in close range, which allows making payments through the cash register function directly through phones equipped with NFC). This kind of payments alone will turn over up to USD50 billion by the end of 2014. By 2013 the number of people using mobile payment systems will double.
The first technological solutions that enable access to the bank not just anywhere and anytime, but without the need of complex computer systems for identification, have already been introduced to Bulgaria. Each person potentially carries their bank in their pockets – on their mobile phone – and can save time and effort, trusting the technology solution that is said to be simple and easy to use.
Unicredit Bulbank made an obvioud bet on the mobile banking. Within 3 to 5 years mobile phones will kill credit cards, so keep your colorful plastic – next year it may have added value in antique shops, says Mr. Hampartzoumian, CEO of Unicredit Bulbank.
In support of this assertion is the fact that the Olympic Games in London next year are building a comprehensive system of payment by phone. It will enable customers to make reservations and pay for transport tickets or cultural events.
The system for mobile banking with telephone, which is being developed by UniCredit Bulbank, for the first time in Bulgaria is not related to a specific mobile operator, model or brand of phones. One can say it is universal because it is applicable to 1,200 models of mobile phones. The only required device is that the phone can access the web.
The first step in the development of mobile banking, came after the announcement from the bank on December 7, and it is the provision of information on customer’s account balance and the opportunity for banking by phone. Anyone can ask for information of their credit and debit balance as well as a list of the recent transactions, as well as information about other services offered by the bank, exchange rates, credit card information and access to bank’s news. Operations that the system currently allows are payments in euro through BISERA and RINGS, interbank payments in euro, currency exchange, a form to create templates of bank orders and use of documents created with the UniCredit Bulbank online .
Bulbank Mobile System works with a PIN that the customer chooses. The phone does not keep any information about the transactions that are made.
