TBI Bank is the first Bulgarian partner bank of Visa in the fintech program Fast Track

10 februarie 2022

From April 2022, the bank’s Bulgarian customers, and soon after that the users in Romania and Greece, will receive a physical or virtual Visa card requested through the bank’s mobile application, and will be able to make payments easily via their smartphone.

When it comes to personal finance, today’s consumers are increasingly looking for convenience and flexibility, but also more personalized services. To meet this need, we continue to strengthen our position as a leading phygital bank in Southeast Europe, which provides next-generation banking services. 

„Fintech’s approach was recognized by Visa, one of the world leaders in digital payments, and we became the first Bulgarian bank partner in the Fast Track program for innovative financial companies,” according to the press release

The program supports the global fintech ecosystem by providing access to Visa’s extremely wide base of technology and information resources. 

What is Visa Fast Track?

Fast Track is a program that allows start-ups and established businesses to take advantage of Visa’s security, reliability and scale to create state-of-the-art payment solutions, shortening the process from months to weeks. 

„What set us apart from the competition in the region is the focus on offering financial and additional implemented services through a wide network of phygital channels,” according to TBI. 

„Participation in the Fast Track program is a recognition of our successful digitalization, unique business model, excellent financial results and our presence in international markets, which is constantly growing. In this way, we will benefit from Visa’s expertise in areas such as business strategy, marketing, design and risk management, as well as the opportunity to work with other leading fintech players from around the world,” the bank explains.

What does the customer gain?

The partnership with Visa is the next step in our quest to improve our fast and secure banking services, which will now be backed by the reputation and wide reach of one of the world’s leading payments. Thus, from April 2022, the bank’s Bulgarian customers, and soon after that the users in Romania and Greece, will receive a physical or virtual Visa card requested through our mobile application, and will be able to make payments easily via their smartphone. 

All daily activities – from paying utility bills to repaying credit installments – will be done in a digital environment and effortlessly, with just a few clicks. In addition, our distinctive Neon card will allow customers to take advantage of the „Buy now, Pay later” solution when shopping.

The partnership between Visa and TBI demonstrates the importance that both organizations attach to innovation and shows that we are looking in the same direction. The fact that we are the first Bulgarian bank in the Fast Track program is a recognition of our remarkable digitalization and proves that we are the right fintech partner for Visa,” said Peter Baron, CEO of TBI.

We are pleased to see how partner banks take advantage of the opportunities that Visa provides for the digitalisation of financial services, thus making life easier for its customers and partners. Through the Fast Track program we give fintech companies access to tools to realize their ideas. With its innovative business model and customer focus, TBI Bank was the ideal candidate. Our joint work will further contribute to the development of digital payments in Bulgaria and will increase their convenience and security,” added Catalin Cretu, Visa General Manager for Romania, Bulgaria, Croatia and Slovenia.

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Mihai Draghici – CEO PayByFace

„Dupa ce oamenii creeaza un cont PayByFace si au adaugat cardul, selfi-ul si PIN-ul, si au avut un pic de curaj sa se duca sa incerce, daca au incercat o data plata prin recunoastere faciala nu mai folosesc altceva (n.r. ca modalitate de plata). 80% dintre ei numai asta folosesc. Le place la nebunie.” 

Afla aici rezultatele in adoptia platii prin recunoastere faciala.

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?