Akbank Direkt Öde

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Summary: Akbank Direkt Öde is a cards-based digital wallet for NFC-contactless purchases on Android (4.4. and above) phones. It is operating in Turkey only and was launched in Sep 2016 by Akbank. Akbank Direkt Öde is integrated in the Akbank Direkt Mobile application and works by utilizing the cloud-based HCE technology.
Website: https://www.axess.com.tr/axess/sayfa/1/2140/mobil-odeme
Status: Live
Market: Turkey (Sep ’16)
Type: Single Bank
Ownership: Akbank
Functions: Retail payments only
Payment Mode: Cards-based
Channel: POS via NFC
Roadmap: n/a [/otw_shortcode_content_toggle]

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Registration & set up: The Akbank Direkt Mobile app is available on Google Play, which comes with Akbank Direkt Öde integrated. Users go to Akbank Direkt Öde menu and add a card within the app. Users can select a card as a default for payments. Users must activate the NFC payment option.

Making a payment: Contactless payment initiated by bringing the phone close to the NFC terminal. No need to authorise the transactions for amounts under 50 TRY. Otherwise authorise with password. It works without internet connection.
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Merchant perspective: The merchant processes a payment using their existing payments processing systems. (Update to follow – Further information being obtained)
Security: HCE technology, which is consider as the world’s most secure mobile payment method. Disposable cards are loaded and untokenized in every transaction. [/otw_shortcode_content_toggle]

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Strategy: Akbank business model is to provide its customers with faster and convenient payment services in order to make their lives easier.
Payee fee: No charge for merchants
Payer fee: No charge for consumers
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Launch date: Turkey (Sep ’16)
Closed Date: n/a
Users: (Update to follow – Further information being obtained)
Retailers / merchants: Supported by all the merchants who are equipped with contactless-enabled terminals
Transaction volume: 3,084 TL, monthly
Transaction value: 43,235 TL monthly
Other data points: n/a
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