Greece’s Piraeus Bank Taps Antelop for Mobile Payments

July 11, 2018         By: Steven Anderson

While Greece these days has been kind of an ongoing disaster as far as most financial industries go, there’s still a decent mobile payments market here. Just ask Piraeus Bank, the largest card issuer in Greece, who turned to Antelop Solutions for its efforts in both digital payments and e-wallet capability, both parts of the mobile payments field.

Piraeus turned to Antelop, reports note, for its multiple certifications and its work in the Payment Card Industry (PCI) Data Security Standard (DSS) compliance. PCI DSS is an excellent indicator, but actually only one of several, of a firm’s skill in data security.

Since Antelop’s white-label solutions—“white-label” means that a company that uses such solutions can apply its own branding to them—work with not only Visa and Mastercard but also Cartes Bancaires, it makes them available for inclusion in several different platforms. In fact, Antelop’s solutions are readily built into most banks’ current web-based operating environments, and mobile banking is no different. Thus, a mobile banking provider can fairly readily turn to Antelop as a way to add mobile payments to its repertoire, and offer more features to customers.

Piraeus Bank’s head of remote banking and transactional banking systems, John Raptakis, noted “The scalability, agility and fast time-to-market of Antelop’s SaaS-based approach is very attractive and will deliver an enhanced service to our customers. Integration is simple and Antelop’s team is always available to provide their extensive expertise in both business and technical related issues.”

While Greece’s economy is still somewhat fragile—signs of a turnaround have emerged in recent months, though the true extent of that turnaround is somewhat debatable—new mobile payments options emerging are a good sign that the country is looking toward restoring options in liquidity. After all, mobile payments—especially as connected to mobile banking—are essentially just stores of value, in a sense; this is cash that’s likely to be spent fairly quickly, about as quickly as a checking account.

With a secure, easy-to-use provider of mobile payments in place, Piraeus might be able to pull some more business toward its mobile payments plan. With signs that the Greek economy may be on the mend, an easy-to-use mobile payments platform could be just the thing to restart shopping and get Greeks spending in-country again.