CEPTETEB Mobile Wallet

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Summary: CEPTETEB Mobile Wallet is a cards-based digital wallet for in-store (via QR code and NFC) purchases and P2P payments operating in Turkey only and launched in Aug 2015. CEPTETEB Mobile Wallet also allows users to withdraw money from the ATMs
Website: https://www.cepteteb.com.tr/cepteteb-mobil-bankacilik
Status: Live
Market: Turkey (Aug ’15)
Type: Single Bank
Ownership: Turk Ekonomi Bankası (Subsidiary of BNP Paribas in Turkey)
Functions: Retail and P2P payments
Payment Mode: Cards-based
Channel: POS via QR code and NFC, WEB
Roadmap: n/a [/otw_shortcode_content_toggle]

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Registration & set up: After login to CEPTETEB, users should enter card settings menu and activate contactless payment for their credit card. They also can change their contactless payment limit for a statement period

Making a payment: Contactless payment initiated by bringing the phone close to the NFC terminal. No need to open the app, just unblocking the phone. No need to authorise the transactions for amounts under 50 TL. Otherwise authorise with PIN
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Merchant perspective: For IDO QR Code based payment, transaction is made via virtual POS system which is integrated to QR reader to take payment. Payment is taken and transferred to merchants account instantly. For contactless payment, the transaction process for merchant is similar with payment with physical card that supports NFC contactless payment. Merchant only needs to have POS machine that supports contactless payment
Security: QR code is valid for two minutes only. Every 5 contactless payment, Mobil ID is automatically renewed and if the user does not connect to Internet, it is deactivated to prevent fraud [/otw_shortcode_content_toggle]

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Strategy: TEB business model it to provide its customers with faster and convenient payment services as well as practical ways to use the application
Payee fee: No charge for merchants
Payer fee: No charge for customer [/otw_shortcode_content_toggle]

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Launch date: Turkey (Aug ’15)
Closed Date: n/a
Users: 671,098
Retailers / merchants: 21 QR IDO terminals; all contactless terminal in Turkey
Transaction volume: Reached monthly 250 Contactless Payment Transaction, 1750 Fast Track IDO and TAV Transaction
Transaction value: Reached monthly 6,434.31 TL Contactless Payment Transaction volume
Other data points: The app has been downloaded over 3 million times
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