Offering quick and agile customer experience with its researches, Turkey's innovative participation bank Kuveyt Turk put into practice 'transfer from the account method' that makes possible to make payment with QR code in e-commerce websites.
Turkey's innovative participation bank Kuveyt Turk, together with the leading FinTech company Compay in payment solutions, put into practice the 'Payment from the Account Through QR Code' method by using direct transfer from the account method. Thanks to this application, which enables payment by e-commerce sites with QR Code, users can make their purchases from their bank account without the need of credit card.
“Credit card is replaced by QR code payment"
Stating that they have created an innovative payment solution among the participation banks, EVP of Kuveyt Turk HR, Strategy and Digital Transformation Aslan Demir gave information about the details of the project. Demir underlined that some banks have started to offer direct payment service from their account, unlike the credit card payment method with QR code. Stating that ComPay offers payment opportunities in more than 50 e-commerce sites, Demir said, “ComPay puts into practice the Payment from Account with QR Code method with Kuveyt Turk, unlike its other contractual corporations. In the first stage, in Erpon.com, Etstur, ucuzabilet.com and n11.com e-commerce sites for purchases of 500 TL and more, which are among the member merchants contracted with ComPay, our customers will be able to pay with QR code from their account using Kuveyt Turk mobile branch application for their online purchases. In this way, our customers will be able to carry out their shopping without the need for a credit card, as if making a transfer.”
“We improve our customer experience with ecosystem collaborations”
Stating that Kuveyt Turk supports its customer-oriented approaches through innovative works carried out on the axis of digital transformation, Demir said, "We have structured our digital transformation strategy to provide an easy, safe, fast and uninterrupted customer experience. One of the topics we prioritize to improve customer experience is to achieve ecosystem collaborations. In this context, we aim to bring innovative business models to our company through the cooperation we have established with FinTechs.”
“We will increase the number of our FinTech partnerships”
Demir, who met with more than 30 FinTech especially since June, stated that they aim to produce innovative solutions and develop new business models for the needs of their customers and employees, and said "We carry out the process of evaluating the companies that contact our bank through API Market or other channels or in line with needs of other units within the organization with the Digital Transformation and Innovation Unit that we established within our organization. We evaluate the work demands of FinTechs in the committees established by bringing together the relevant business units and technical teams. As a result of the positive decisions of the stakeholders, we create added value for our company and undoubtedly our country by focusing on gaining new business models and improving customer experiences. In this respect, we are open to requests from FinTech and we are ready to give all the support we can."
How Does the Payment From Account Through QR Code works?
'Payment from Account Through QR Code' service developed by ComPay using Kuveyt Turk API Market is remarkable because it is fast, practical and secure. The system is activated by displaying a QR code with the shopping details on the screen during the payment phase of the online purchases. Kuveyt Turk customers select ’Pay through QR Code' under the 'QR Code Menu' after logging in with the customer numbers and passwords through the bank's mobile branch. When the QR code on the online shopping site is scanned with the camera opened on the Kuveyt Turk Mobile Branch screen, the payment process is completed.