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New launch: AliasPay, a new solution for sending or receiving money via phone

Comunicat de presa 2021-03-18
New launch: AliasPay, a new solution for sending or receiving money via phone

From now on, Banca Transilvania's customers have an additional alternative to transfer money via their mobile phones, namely AliasPay, which can be accessed from the BT Pay application.

Money transfers between accounts opened with different banks can be made using the beneficiary's mobile phone number, instead of the IBAN. Currently, the solution can be used by the BT and CEC Bank customers, and the service will expand as the number of banks included in the AliasPay offer increases. The transfer is based on the definition of an Alias, respectively the association of  the IBAN bank account number with the mobile phone number. The definition of an Alias is made from BT Pay / Profile.

Banca Transilvania offers 3 money transfer solutions through the BT Pay app:

  • Instant and free transfers using the phone number from the Contacts list (to another BT Pay user)
  • Transfer through IBAN (to another BT client or to the client of another bank / FinTech), instant intra-banking and to 4 banks or in clearing order to all banks
  • Transfer using AliasPay, namely the phone number instead of the IBAN (for now, to CEC Bank customers)

This feature, developed by Transfond, was launched today, within the Digital Financial Services Forum and is a premiere on the Romanian market. The event was attended by representatives of the Romanian Banking Association, the National Bank of Romania, Transfond, CEC Bank and Banca Transilvania. BT was represented by Leontin Toderici, Deputy Chief Operating Officer, and the messages transmitted were as follows:

  • We are glad to be part of this premiere on the Romanian banking system, by launching the interbank money transfer feature using the mobile phone number. Starting from now on, Banca Transilvania's customers have access to the AliasPay service through the BT Pay application, used by 1.2 million people.
  • AliasPay brings simplicity, security and scalability. We hope that the solution will be adopted as soon as possible by as many banks as possible because this is our market, of the Romanian banks.
  • The BT payment ecosystem includes Instant Payments (also launched together with Transfond and CEC Bank, in 2019), NEO Open Banking - 15,000 accounts from other banks and FinTechs testing integration with BT (2019) and BT Pay - the first wallet banking in Romania (2018).
  • BT is the market leader in terms of interbank payments in RON, settled through Transfond: 17.2% of total interbank payments in 2020; 18.1% of the banking payments’ value in 2020, respectively 19.86% of the instant payments’ volume in total RON payments.
  • Almost 72 billion RON is the value of interbank payments made in 2020 by BT through Transfond.
  • Over 21 million interbank payment operations were performed by BT in 2020 through Transfond.
  • We thank those with whom we start AliasPay, Transfond and CEC Bank, and we are confident that, as soon as possible, more and more banks will adopt this solution which simplifies the everyday online banking.