UniCredit and MasterCard launch mobile payments for insurance agents in Romania
The partnership will enable Allianz-Tiriac agents to start accepting card payments with mobile point of sale (mPOS) for the insurance policies issued by the company.
The firms say Allianz-Tiriac becomes the “first insurance company in Romania” to offer this solution, enabling the client to pay insurance premiums directly to the agent who sells the insurance policy. Allianz-Tiriac has over 2,800 insurance agents across the country.
Bogdan Zamfirescu, head of operations back office division at Allianz-Tiriac, says: “The mobile point of sale represents another step we made towards the improvement of the customer experience.”
The companies say the new platform for payments processing via mPOS has “all the elements an insurance service provider would need to increase insurance sales with card acceptance, including merchant portal to manage the insurance packages, promotions, and agents in the field, equip them with easy to use mobile payment applications and high quality card readers”. This in turn allows a “greater number” of agents to accept digital payments.
Starting in 2015, Romanian financial legislation requires a new limit set on cash transactions aiming to increase transparency, to enhance control over cash transactions and to “stirring” usage of electronic payments, “encouraging” consumers to use electronic methods of payment.