Tieto and First Investment Bank introduce contactless card solution in Bulgaria

 Tieto Corporation         PRESS RELEASE         31 August 2011 at 10.00 am EET

First Investment Bank and Tieto introduce the first contactless card payment solution to the Bulgarian market. The card solution is based on wireless technology and it increases merchants' business performance by offering their customers a flexible and fast way of paying. First Investment Bank is one of the largest banks in Bulgaria and the card business leader in the country.

The contactless card system's benefits are obvious in the fast moving consumer goods and entertainment industry. Tieto's solution brings immediate cost efficiency for merchants as it speeds up the payment process while ensuring highly secure data transmission. For today's consumers the contactless card solution offers a new level of convenience and safety at the counter. The payment process takes just a few seconds, wireless technology allows cardholders to pay by swiping a payment card over the card reader.

Mariana Sadjaklieva, Head of Cards Department at First Investment Bank, says: "We want to offer better service and demonstrate our ambition, capability as well as commitment to be the top player in the card business. The contactless card system answers the need for modern payment services because it brings competitive advantage for merchants and lets customers enjoy an easy way to pay for their purchases. Thanks to Tieto's expertise and experience, the system was designed and developed effectively, and integrated smoothly.

Director Maris Ozolins at Tieto joins the bank's vision of a wireless future: "Contactless card systems are one of the latest trends on banking. We want to be in the forefront of creating new payment solutions and see that they provide a new competitive advantage for our customers who want to lead this market."

For further information please contact:
Maris Ozolins, Director, Cards, Tieto Financial Services, phone +371 67510000


Principal media

Tieto is the leading IT service company in Northern Europe providing IT and product engineering services. Our highly specialized IT solutions and services complemented by a strong technology platform create tangible business benefits for our local and global customers. As a trusted transformation partner, we are close to our customers and understand their unique needs. With about 18 000 experts, we aim to become a leading service integrator creating the best service experience in IT. 

First Investment Bank aspires to be one of the finest banks in Bulgaria and the Balkan region, to be recognized as a rapidly growing, innovative, customer-oriented bank, offering outstanding products and services, ensuring excellent careers for its people, and contributing to the community. Established in 1993, Fibank is one of the largest banks, operating in Bulgaria. Throughout the years Fibank has proved to be among the most competitive financial institutions, being given several rewards for its performance and customer service.