NEWS

A New Direction in Instant Payments: NFC Technology and Digital Convergence

The world of payments is undergoing constant transformation. While contactless card transactions once represented the pinnacle of technological advancement, a new generation of instant payments is poised to take the lead. At the PayTechShow on April 15, 2025, Igor Szpirin, Product Director at Transaction Systems, highlighted that although NFC (Near Field Communication) technology is not a prerequisite for instant payment systems, it can play a significant role in their successful adoption.

According to Igor Szpirin, NFC technology can substantially contribute to the success of instant payments – if implemented correctly. He pointed to Hungary’s qvik system and POS-based HCE (Host Card Emulation) as examples of how the right technology can greatly increase acceptance of instant payments and offer a real alternative to traditional card transactions.

“The key lies in optimizing the user experience, minimizing technological barriers, and actively involving cashiers and merchants in the rollout of new technologies,” he emphasized.

NFC vs. QR Code – The Decisive Role of User Experience

Instant payment systems are increasingly gaining attention worldwide as alternatives to traditional card-based payments. By definition, instant payments are transactions that are completed within 10 seconds and make funds immediately available in the recipient’s account.

Igor Szpirin stressed that “these solutions only have a chance at widespread adoption if they offer a payment experience that is at least as fast and simple as today’s contactless card payments.” He added:

“NFC technology is not strictly necessary for instant payments, but it can greatly enhance their success.”

His presentation highlighted that while QR code payments are already widely recognized, NFC offers clear advantages from a user experience perspective. With QR codes, the payment process typically requires multiple steps: launching an app, scanning the code, and confirming the payment. In contrast, NFC simplifies the process significantly – transactions can be completed with just a single tap.

Opportunities and Challenges of NFC in Instant Payments

Igor Szpirin presented two approaches to NFC-based payments: mobile-based HCE and POS-based HCE.

Mobile-based HCE offers compatibility with all existing POS terminals, but the process is often more complex, especially if users must manually select their payment method. On iOS devices, additional challenges arise due to the lack of full NFC support for third-party apps.

In contrast, POS-based HCE provides a simpler, more transparent user experience. The cashier simply asks the customer for their preferred payment method, and the POS terminal sends transaction data directly to the customer’s phone, automatically launching the payment app. This method is not only more user-friendly but also empowers cashiers to actively promote the instant payment option, accelerating adoption.

Igor Szpirin shared practical examples illustrating the pros and cons of both NFC-based solutions. In Slovenia, for instance, the Flikk system relied on mobile-based HCE. Although technically successful, its complexity and subpar user experience led to low adoption rates.

The POS-based solution also supports both card and instant payments in parallel, without requiring users to change any settings. This dual compatibility simplifies international transactions as well, fostering broader adoption in the long run.

The Future Path: Standardized and Simple

Transaction Systems’ proposed POS-side HCE technology not only improves user experience but also simplifies implementation for developers. Using a standard URL-based data transfer method (DeepLink), it is easily integrable on both Android and iOS platforms. It also enables the electronic delivery of payment receipts, supporting a paperless approach.

Igor Szpirin’s presentation made it clear that the future of payment technology lies in digital convergence driven by NFC and other innovations. As consumers increasingly demand speed, simplicity, and security, NFC-based instant payment solutions are positioned to become key players in the next generation of digital transactions.

Read the article in Hungarian here

This is how digital banking becomes intelligent – omnichannel platform for a unified customer experience

What does it take to deliver a truly intelligent digital banking experience?

In this FinTechZone roundtable interview, our CEO for Central, South, and East Europe, Panos Chalkias, shares insights on how omnichannel platforms are shaping the future of seamless and unified customer journeys in banking.

What does the term “Intelligent Bank” mean to you?

An Intelligent Bank is one that delivers a seamless, proactive, and personalized experience across every touchpoint — whether that’s a branch, ATM, mobile app, or online platform. It’s a bank that operates on an integrated, omnichannel infrastructure where all channels work in harmony to serve the customer in real time. At Transaction Systems, we believe that an intelligent bank is powered by a software platform that unifies self-service, branch, internet, and mobile banking — such as Auriga’s web-based omnichannel solution. This kind of intelligent foundation enables banks to become more customer-centric, data-driven, and operationally efficient.

In your opinion, what makes a digital bank truly “intelligent”?

A digital bank becomes truly intelligent when it achieves full integration across all delivery channels and uses data from every interaction to continuously optimize service. It’s not enough to offer digital tools — they must be orchestrated through a central platform that allows customers to move seamlessly between channels without losing context or continuity. This is where the omnichannel solution comes in: it provides the web-based architecture that enables real-time, coordinated engagement across self-service kiosks, mobile apps, online portals, and branches. Intelligence in banking is about unification, responsiveness, and delivering a world-class experience at every point of contact.

What are, in your view, the key obstacles that prevent a digital bank from becoming intelligent?

One of the biggest challenges is the fragmentation of systems and services. Many banks have built digital capabilities in silos, leading to disconnected experiences and inefficiencies. Legacy infrastructure, lack of integration, and the absence of a central orchestration platform make it difficult to deliver a truly intelligent, omnichannel service. Without a unified software layer —banks struggle to collect and act on data in real time, maintain continuity across channels, or personalize the customer journey effectively. Another obstacle is underestimating the strategic value of self-service banking as part of the overall customer engagement model.

Where do you think the Hungarian banking sector currently stands on the journey toward becoming intelligent?

Hungarian banks have made considerable progress in digitizing services and embracing mobile and online platforms. But the leap from multichannel to intelligent omnichannel banking is still underway. Many institutions are exploring ways to unify their service models, but full integration, where all customer touchpoints operate through a central, intelligent platform, is not yet widespread. With the adoption of platforms like Auriga’s, which offer a modular and future-ready EB-based architecture, the Hungarian sector can accelerate its journey toward intelligent banking and set a new benchmark for customer experience and operational efficiency in the region.

➡️ Read the interview in Hungarian here.

Transaction Systems Joins Forces with GRGBanking to Provide Organizations in Central and Eastern Europe with Banking Transformation Solutions

Transaction Systems LLC. (TRSYS), the leading provider of e-payment solutions in Central, South, and East Europe, and GRGBanking (GRG), the leading provider of financial intelligent equipment and solutions, announced their cooperation to provide GRG’s intelligent products and innovative financial technologies in Central and Eastern Europe.

With a strong international presence, established offices and subsidiaries in Europe, Southeast Asia, the Americas, the Middle East, and Africa, GRG aims to set up its banking automation business globally through a strong network of strategic partners. Part of this expansion strategy is the agreement with TRSYS which will act as GRG’s distributor in Albania, Bosnia, Bulgaria, Croatia, Cyprus, Czech Republic, Greece, Hungary, Kosovo, Romania, Slovakia, and Slovenia.

GRG has already initiated its global expansion strategy entering new potential markets overseas with innovative products such as VTM (Virtual Teller Machine), the flagship branch transformation solution, as well as ATMs, Retail Recyclers & Deposits, Counting Stations, and many others. Besides their current implementations in Southeast Asia, Russia, the Middle East, Germany, and Turkey, the partnership with TRSYS will initiate GRG’s expansion in the market of Central and Eastern Europe.

“Stronger localization is the foundation of our global expansion,” said Adam Lee, General Manager, GRG Europe & Middle East. “We will continue to strengthen production, research, and services all over the world, and we will initiate strategic partnerships with payment solution providers such as TRSYS. Furthermore, we will positively develop and extend our new business worldwide, building a global brand”.

Commenting on the new cooperation, Panos Chalkias, Managing Director, TRSYS International said: “We are particularly happy to join forces with GRG. With banking automation solutions already used by hundreds of organizations worldwide, this cooperation will enable us to support organizations in Central and Eastern Europe and provide them with the proper tools to optimize and streamline their business processes, reduce costs as well as increase revenues. This partnership is in line with our strategic target of expanding our solutions portfolio to include most segments of the FinTech market.”

Founded 15 years ago, TRSYS is among the leading providers of payment and bank automation solutions in Central and Eastern Europe. The company aims to reinforce its position in the region by expanding its product portfolio to include branch automation solutions such as ATMS, Automatic Tellers, Automatic Payment Kiosks etc., enabling Financial Organizations in the region to achieve their digital transformation initiatives.

Transaction Systems Introduces the New PAX Android POS in Technobank 2018, Serbia

Presenting to conference delegates, the company also presented the new Governmental Payments Solution, running on PAX terminals

Transaction Systems (TRSYS) is sponsoring Technobank 2018, the largest financial technologies conference and exhibition, organized for the 18th consecutive year in Serbia. Transaction Systems, a prime sponsor of the conference, is showcasing the new PAX Technology terminals and introducing the new Android POS series for the first time in CEE.

Presenting during the conference, TRSYS, along with Serbian partner eTAKSE, is introducing a new solution that will enable governmental payments via POS terminals. eTAKSE has piloted the innovative solution, running on PAX S900 terminals, in the Municipality of Belgrade. The solution has managed to surpass local state regulations, as well as VISA rules regarding commission payment.

With the new application, the commission will now be charged directly to the payee. The system provides multiple payment channels for citizens and business entities with every payment tracking option via a unique transaction ID across GOV domains. For the first time in Eastern Europe, citizens and businesses are able to pay on governmental accounts within treasury administration using payment cards where the merchant commission is covered by the payee and not the merchant (government).

Transaction Systems’ presentation topic as well as the products on show provide a perfect match for Technobank, known for its high-quality presentations and continuous focus on innovation and the future of banking technologies.

Transaction Systems Discusses Digitalization and Android POS terminals in SmartCard 2018

The company’s executive presentations focused on the way digitalization holds the key to the branch of the future and the new, innovative value-added services over PAX Android POS Terminals

Transaction Systems (TRSYS) was the Gold Sponsor in Croatia’s largest financial technologies conference and exhibition, which took place in the beautiful Adriatic coast town of Opatija, between September 24 and September 26. The company showcased the new PAX Technology’s Android POS terminals along with the new E-series (Android Electronic Cash Registers with integrated card payment acceptance in the conference stand; TRSYS executives were among the speakers of the conference, discussing topics such as digitalization of the bank branches and the new, innovative, value-added solutions on PAX Technology Android POS terminals.

Presenting on “Digitalization inside and outside the branch”, Transaction Systems’ International Business Managing Director, Panagiotis Chalkias, presented how, in order to gain a competitive advantage in a post-financial crisis era, banks need to rely more on the less-expensive digital channels. In his view, technology has several goals for retail banks: the migration of transactions and sales to digital channels, 24/7 customer access for every interaction, a personalized approach to sales, and a unified, omnichannel user experience inside and outside the branch.

During an exclusive workshop, Miha Culiberg, Regional Director of Transaction Systems along with Antun Portner, Business Development Manager of Combis, the company’s Croatian partner, demonstrated innovative solutions running on the new PAX Android POS terminals. New applications, available for download in PAX Store – the PAX Technology POS Management Platform- transform the payment terminal into a powerful network endpoint that can help merchants, telco providers, and banks attract consumers, and enhance their revenue streams. These multi-application environments of the new Android POS terminals provide a window of opportunity for the development of payment, payment-related, and value-added applications geared toward meeting the needs of merchants across all vertical segments.

For the 19^th consecutive year, the SmartCard Conference has provided delegates from the region’s Banking and IT sectors with three days of networking opportunities along with valuable input and insights on the trends and challenges facing the cards and payments sector.

Merchantpas & Transaction Systems supply Global Blue with innovative Android terminals by PAX Technology to enhance tax free shopping service at luxury fashion stores

Merchantpas and Transaction Systems announce that Global Blue, the worldwide industry leader in Tax-Free Shopping, has selected PAX Technology’s A920 Android SmartPOS terminal to enhance its fleet of devices (phones, tablets). Millions of shoppers in Europe and Asia Pacific will be experiencing improved tax-free shopping, thanks to initiatives taken by leading service provider Global Blue to deploy PAX’s advanced Android SmartPOS payment terminals in many of the world’s most renowned fashion stores.

Global Blue partnered with experienced European payment system integrators MerchantPAS and Transaction Systems to roll out the elegant PAX A920 Android SmartPOS terminal which can run a suite of VAT refund and Dynamic Currency Conversion apps, providing the potential for thousands of fashion retailers and department stores to quickly and securely offer tax-free shopping and DCC savings when shopping in over 300,000 Global Blue affiliated stores worldwide.

The stylish A-series from PAX offers all the benefits of cool smartphones plus secure payment solutions and will add to Global Blue’s innovative portfolio of in-store tablet devices. Unlike traditional POS terminals, merchants using PAX Android devices are able to download a range of useful apps to help increase customer loyalty & interaction, modernize their business, and turn every sale into an upsell.

Sampath Bank launches Virtual Teller Machine and Achieves the “Branch-in-a-Kiosk” Concept

The new solution offers 24/7 full banking services in a fraction of a branch’s footprint and costs.

Sampath Bank PLC and Transaction Systems announce the availability of a “Branch-in-a Kiosk” solution that will enable the Bank to provide customers with 24/7 banking services. The solution offers the full range of banking transactions, integrating branch counter, ATM, internet banking and telephone banking, offering a seamless customer experience throughout multiple channels.

With more than 30 years of financial services in Sri Lanka, recognized as the best retail and commercial services bank in the country, Sampath Bank PLC, true to its commitment to digital transformation, and aiming to provide exceptional customer satisfaction, has chosen Transaction Systems’ Remote Teller Station (RTS) solution, a compact kiosk which can be used both as traditional unattended terminal as well as a remote teller. During the first phase of the project, the solution has been primarily installed in a branch in Colombo, capable of performing almost all available branch transactions making the “Branch-in-a-kiosk a reality.

With its versatile modular design, RTS enables the migration of complex counter services and customized financial consulting services to the self-service terminal. Over 99% of counter services are available on RTS, thus it can be utilized for branch transformation or teller-less branch. Thanks to its unique LiveBank platform by Ailleron, customers are able to perform almost all of their banking business via real-time video interaction and guidance of remote teller, thus creating a virtual branch with all the features of a physical one.

“With technological innovation at heart, Sampath Bank has been able to differentiate itself from competition and stand out as the bank of choice for many Sri Lankans,” said Ajith Salgado, Group Chief Information Officer, Sampath Bank PLC. “With the introduction of the first ever Virtual Teller Machine in Sri Lanka in collaboration with Transaction Systems and Ailleron, the customers of the bank are now empowered to carry out services including accounts opening and card issuance with PIN nomination, by themselves at their convenience. The solution offers the key to improving banking processes and helps to meet the objectives of customer relationship management in retail segments”.

“The successful implementation of the “branch-in-a-kiosk” concept is clear evidence of what our technologies can do for financial institutions”, said Panagiotis Chalkias, Managing Director, of Transaction Systems. “TRSYS technologies enable for more efficient bank branches, creating enhanced tech-friendly experiences for customers and improved operational efficiencies for the bank.”

Commenting on the new cooperation, Michael Pappas, Product Director, FinTech Solutions, Transaction Systems, said: “We are very proud of our cooperation with Sampath Bank and Ailleron that brought to life the idea of Branch-in-a-Kiosk and will now be driving the Bank’s customer experience to a new level. The results have been so far stunning, as, for the first time in Sri Lanka, the Bank introduced real-time account opening along with debit card issuing via the remote teller machine; bringing the Bank into the forefront of innovative, digital services offering.”

Moreover, the solution allows Sampath Bank to engage with customers on a 24/7 basis, using dynamic offers and real-time online assistance through video, text chat, click-to-call, and co-browsing functionalities. It is a unique platform with built-in support for the Bank’s sales and operational processes, including cross-selling/up-selling through the presentation of personalized offers and the possibility of problem-free handling of many issues during a single video session, with the option of switching the customer to experts in the requested areas.

Download the CaseStudy_BranchInAKiosk_SampathBank

Cardlink, Transaction Systems & Novidea Support Cashless Payments at “The Taste of Athens”

Cardlink, the leading POS terminal Network Services Provider in the Greek market, in cooperation with Transaction Systems (TRSYS) and Novidea, are offering cutting-edge payments technology during the cashless four days of The Taste of Athens food festival. From September 19 to 22, all payments are conducted via the A920 and E800, PAX Technology‘s Android POS terminals.

Taste of Athens, brings together the best restaurants, food and drink brands of the city and provides guests with experiences such as cooking lessons by world-class chefs, wine tastings, and cocktail preparation classes. During the four cashless days of the festival, all payments are managed via Cardlink’s new payment platform Cardlink POSsible and via PAX Technology Android terminals provided by Transaction Systems and Novidea, while running multiple applications such as Cardlink’s maitre, the innovative order placing application.

Cardlink, the leading payment Services provider in the Greek market, with the largest network of 250,000 POS and 10,000 e-commerce outlets, throughout the Greek territory, innovates relentlessly in order to develop and provide solutions that continuously enhance the experience of merchants and consumers alike. To this purpose, Cardlink has chosen PAX Technology’s Android POS terminals, the PAX Store ecosystem, and in cooperation with Transaction Systems and Novidea – TRSYS hub in Greece – has entered the Android payments ecosystems by launching the first payment application for Android POS in the country. Transaction Systems, as PAX Technology’s Master Distributor for Central and South-eastern Europe, offers Cardlink a wide range of solutions enhancing the new generation of PAX POS terminals with new features and functionalities, helping merchants and financial organizations adapt to the new environment of digitalized marketspace, driving revenue growth and improving customer engagement and profitability.

By using PAX Technology’s state-of-the-art Android POS, such as the A920 and the visually striking E800, the event organizers are providing each paying customer with access to a whole world of 3^rd party applications, state-of-the-art technology along with elegance & style.

Click here to watch the video

Download the CaseStudy_FirstAndroidPayments_Cardlink

Transaction Systems Receives the Best ATM/Self-Service Experience Award during the Bank Customer Experience Summit

Transaction Systems proudly announces that it has been honored with the Best ATM/ Self-Service Experience Award during the Bank Customer Experience Summit held in Chicago, USA on September 23 -25, 2019. The award-winning case was the implementation of the “Branch-in-a-kiosk” solution at Sampath Bank in Sri Lanka.

The Best in Bank Customer Experience Awards (BCX Awards) recognize innovative, pioneering financial institutions and technology providers whose branches and technologies are having the most impact on consumers

The “Branch-in-a Kiosk” solution enables Sampath Bank to provide customers with 24/7 banking services, offering the full range of banking transactions; by integrating branch counter, ATM, internet banking, and telephone banking, Branch-in-a-kiosk offers a seamless customer experience throughout multiple channels.

Sampath Bank PLC, aims to provide exceptional customer satisfaction and for this reason has chosen Transaction Systems’ Remote Teller Station (RTS) solution, a compact kiosk that can be used both as a traditional unattended terminal as well as a remote teller. With its versatile modular design, RTS enables migration of complex counter services and customized financial consulting services to the self-service terminal, thus capable of performing almost all available branch transactions making the “Branch-in-a-kiosk a reality.

On receiving the award, TRSYS Managing Director, Panagiotis Chalkias commented: “We are extremely proud and feel greatly honored to have received this distinction. This award is clear evidence of how our technologies optimize bank branch operations, enabling them to provide tech-friendly experiences to their customers and embark on their journey towards digital transformation.”

Auriga and Transaction Systems Join Forces to Transform Banking Services

New partnership supports growth plans in Russia, Eastern Europe, the Balkans and Sri Lanka.

Auriga, a leading supplier of technological solutions for the omnichannel banking and payments industries, and Transaction Systems announced a new strategic partnership to offer Auriga’s WinWebServer (WWS) Omnichannel platform to its customers in Greece, Ukraine, Hungary, Slovakia, Cyprus, Russia, Bulgaria, Romania, North Macedonia, Albania, Georgia, Kazakhstan, and Sri Lanka, enabling them to develop banking and payment services.

At the center of the partnership is how both organizations will help banks use Auriga’s WWS software solution to transform their banking services. The Auriga WWS is a proven, modular solution that provides feature-rich banking services through all channels including mobile, tablets, PCs, kiosks, and ATM machines.

Vincenzo Fiore, Auriga CEO said: “Having worked with them as a distributor for some years, we are excited to be forging a closer partnership with TRSYS to help us realize our ambitious international growth plans. Their technical expertise and local market knowledge match with our own technology and consultancy capabilities and will enable us to answer the demand for transforming banking services in these countries.”

Commenting on the partnership, Panagiotis Chalkias, Managing Director of Transaction Systems, said: “The new partnership fully meets our strategy and further enhances our portfolio to provide a full range of transaction optimization solutions in our markets. The combined technologies, skills, and expertise, will create and deliver tailored solutions that empower local banks to successfully implement the right strategies and optimize operations while enabling continuous innovation and improvement of customer omnichannel experiences.”