Georgian universal bank TBC Bank has joined forces with GoSwiff, a mobile payment and marketing solutions provider, to launch of a new mobile payment service for Georgian merchants by the end of November 2015.

The new mobile point of sale service (mPOS) has been designed for merchants who do not have access to the relevant infrastructure, or sufficient revenue, to use traditional POS services.

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Based on GoSwiff’s payment acceptance platform, the service features all the elements the bank requires, including near field communication (NFC) card readers, mobile application, merchant reward programs, consumer loyalty tools and product catalogues.

The solution will also allow merchants to manage, display and track product items and create promotions on their online portal.

The service will accept a full suite of credit cards including Visa (including payWave), MasterCard (including PayPass), Maestro, and local Georgian cards.

Consumers can make purchases by simply tapping their contactless card in front of a secure reader.

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TBC Bank deputy retail banking director Vazha Beriashvili said: "GoSwiff’s white label solution was perfectly aligned with what we were looking for in an ideal mPOS solution, and the breadth of their value added services included was a big bonus."

GoSwiff COO Stefano Diemmi said: "Being selected by one of the leading banks in Georgia demonstrates our capabilities in different markets and further expands our reach in the Caucasus region. We are confident that our offering will benefit Georgian consumers, merchants and banks – increasing the convenience and quality and quantity of card transactions in the country."