Tieto implements contactless solution for PASHA Bank

Tieto has implemented Card Suite contactless solution for acquiring and issuance of VISA and MasterCard payment cards, as well as completed certification project for PASHA Bank in Azerbaijan. The new technology will benefit customers with option to make prompt and secure payments.

By taking advantage of the latest information technologies in the field of payments, PASHA Bank will broaden provided services, offer new products and delivery channels to cardholders, as well as expand the network of accepting card payments.

Tieto Card Suite Contactless solution is compliant with international payment schemes VISA PayWave and MasterCard PayPass requirements. It allows cardholders to make cashless transactions without signature or PIN code authentication. Contactless payments are efficient solution for public transport and trade service providers, since it allows to process non-cash transactions by one touch of POS.

Maris Ozolins, Director of Cards, Financial Services said: “Tieto is satisfied with the results of Card Suite Contactless functionality delivery project to PASHA Bank.  With our help the Bank took a chance to be among the first ones who provides contactless acquiring and issuing for one of the most growing banks in Azerbaijan. ”

“PASHA Bank is always paying special attention towards introduction of new technologies to the market. The Bank fully supports the initiatives of the government and international institutions to increase cashless turnover as well as strengthens its services to enterprises and private customers. We plan to introduce the contactless technology at the Baku fast food restaurants, where the country's first integrated solution for the cash register and POS-terminal will be presented,” commented Emil Gadjiev Deputy Chairman of the Board, PASHA Bank.

Expansion of the latest technologies in the Bank results in opportunities for new projects related to development of social infrastructure – payments for parking, public transport, toll roads, in restaurants and food service retailer chains, sports activities etc. The plan to decrease the amount of cash and growing cash less payment volumes is in line with PASHA Bank strategy.

PASHA Bank is Tieto customer since year 2009.

For further information please contact:
Maris Ozolins, Director, Cards, Tieto Financial Services, phone +371 67510000
Emil Gadjiev, Deputy Chairman of the Board, PASHA Bank, phone +994 12 496 50 00

Tieto is the largest Nordic IT services company providing full life-cycle services for both the private and public sectors and product development services in the field of communications and embedded technologies. The company has global presence through its product development business and global delivery centres. Tieto is committed to developing enterprises and society through IT by realizing new opportunities in customers’ business transformation. At Tieto, we believe in professional development and results.

Founded 1968, headquartered in Helsinki, Finland and with approximately 14 000 experts, the company operates in over 20 countries with net sales of approximately EUR 1.6 billion. Tieto’s shares are listed on NASDAQ OMX in Helsinki and Stockholm. Please visit www.tieto.com for more information.

PASHA Bank is one of Azerbaijan’s leading corporate banks. Established in 2007, we offer all major financial services, including investment banking, trade financing and asset management to a range of clients, from large corporates to small and medium enterprises. The Bank works particularly closely with companies operating in the non-oil sectors of the economy, including agriculture, transportation, construction and retail, which are vital for helping Azerbaijan to diversify its economy.

The Bank is part of PASHA Group, a large investment holding based in Azerbaijan, which has assets across a wide variety of sectors, including retail banking, insurance, construction, construction materials and tourism. Kapital Bank – one of the biggest retail banks in Azerbaijan also belongs to PASHA Group. Read more about the Bank  www.pashabank.az/lang,en.