Azerbaijan's leading corporate bank PASHA Bank, along with MasterCard and Umico mobile application, offer innovative solution to consumers. For the first time in the local market, consumers can pay with in-app cards by scanning barcode and receive extra bonuses by paying via Masterpass in the Umico mobile application.
A completely new digital payment system is designed to improve in-store purchase experience of both consumers and shopping locations. Consumers will now be able to make purchases conveniently and securely by adding any payment card to Umico application and simply presenting the barcode to the cashier - neither physical card nor cash is required. Besides, on top of bonuses offered by Umico Partners, consumers will receive an extra 1% bonus from Umico Partners that accept Masterpass payments. With the help of this new service, partner businesses and service companies (merchants) can accept payment for goods and services, even without a POS terminal, by scanning the barcode on the Umico application.
According to Igor Bychek, CEO of Umico, today Umico mobile application has become a platform for implementing the most innovative technological trends in retail. “We are glad to introduce the new product - Masterpass electronic wallet, which allows you to link any bank card to Umico for contactless payments. The new solution has several advantages: in addition to extra cashback, there is no longer a need to hand your bank card to anyone, which becomes very important during pandemic - you only need a mobile phone to make a payment. The network of partners where clients can pay using Masterpass will grow, which means that purchases with Umico will be more and more profitable for our customers” I. Bychek said.
Erdem Chakar, Mastercard Azerbaijan Country Manager, noted that they are glad to introduce a new way to pay with Masterpass.
“Consumers who have an Umico app can now add their cards to Masterpass. They can pay with Masterpass, right after their Umico barcode is scanned, by authorizing the transaction from their mobile phone; in a safe, secure, and fast way. This is another milestone in the Cashless Azerbaijan initiative and we are giving an extra cashback for Masterpass payments in Umico”, - stated E. Chakar.
According to Jalal Orujov, Member of the Executive Board and Chief Operations Officer of PASHA Bank, the introduction of new technological tools to the banking sector of Azerbaijan holds a special place on the Bank’s Development Strategy for the period of 2018-2020.
“The development of the cashless payments sector, where PASHA Bank succeeded to achieve significant results in recent years, noted both by the banking community and the state regulator. In 2020, one of the most important projects in this regard was the implementation of Masterpass technology in partnership with the Umico. Ensuring user convenience while making transactions with various bank cards, new solution allows card holders to enhance the security of transactions among other benefits. Doubtlessly, the successful implementation of this project by PASHA Bank along with the partners will further popularize the use of cashless payments in the daily life of citizens and will increase the volume of these payments in the country”, - emphasized Jalal Orujov.
Umico users can identify where they can pay using Masterpass, on partner locations marked with a special sign.
To benefit from the new product
- Become a Partner of Umico - https://umico.az/become-partner
- Apply to PASHA Bank for the service - https://www.pashabank.digital/login#/signup
For more information, please contact PASHA Bank Contact Center: * 8123 / (+99412) 4965004 (for corporate clients), * 9123 / (+99412) 4965000 (for individuals).