FOO Provides LGB Bank with LGB Pay:
FOO has developed an HCE Mobile Payment solution called LGB Pay for LGB Bank.
As technology creeps into the market, consumers will no longer need to use plastic cards. People are becoming more familiar with Tap n’ go, therefore retailers and banks are rolling out contactless terminals.
Consumers will be able to make quick, easy and secure transactions. When the consumer is ready to pay in the store, payment will be performed by simply entering his PIN or fingerprint to the mobile payment app and tapping a mobile device to the contactless POS reader terminal of the merchant.
The consumer will be able to benefit from an alternative and trendy way of exploiting payment cards. Getting rid of plastic cards and simply using the mobile devices for payments will also be an added value.
For merchants, this will definitely increase sales.
As for banks such as LGB Bank, they will be providing a better service to the merchants by opening an opportunity to increase sales and decrease disputed transactions. They will also be providing new attractive and independent payment services to their clients such as LGB Pay.
About LGB Bank
With over 50 years of banking tradition, trust and excellence in customer service, LGB BANK stands today as one of Lebanon’s deeply rooted banks.
Established in 1963 under the name of Banque de Credit Agricole s.a.l., LGB BANK adopted its current name and shareholders’ form in 1980, when a group of businessmen (led by the current Chairman) acquired the majority of its shares.
The Bank currently operates from its head office located in Beirut Central District, backed by a powerful network of 18 branches spread across the country and a branch in Cyprus since1986.and a representative office in Dubai – UAE
Today, being one of the most dynamic and vibrant institutions in Lebanon, the Bank is committed to a systematic expansion strategy which dictated a successful capital increase in 2014, followed by an enhancement of the Bank’s operational and information technology infrastructure, a substantial growth in profits and deposits, and most importantly a concentrated modernization and development process of its human capital.