TBC launches palm payment in Georgia for first time

TBC has introduced palm payment in Georgia, which it says makes it the first lender in the country to launch the biometric payment method.

The service allows customers to pay for purchases by scanning their palm at participating merchants, removing the need to present a bank card, smartphone or cash at the till.

The launch adds a new payment option in a market where banks and retailers have been expanding digital checkout methods. Palm-based payments are also being tested or rolled out in other countries as providers look for alternatives to cards and mobile wallets.

Customers must complete a one-time registration at a location with a palm scanner. They then use TBC's mobile banking app to scan a QR code and choose which account to link to their palm.

Once enrolled, users can pay at any participating partner outlet by placing their palm over a scanner. The system uses biometric data based on the unique characteristics of each customer's palm to connect the payment to the selected bank account.

Payments push

The launch comes shortly after TBC partnered with American Express to broaden acceptance of its cards across Georgia. The arrangement is intended to enable more merchants to accept the cards in shops and online.

TBC is part of TBC Bank Group, which is listed in London and says it serves 7.2 million monthly digitally active customers in Georgia and Uzbekistan.

In Georgia, the bank operates across retail, micro, small and medium-sized enterprises, and corporate and investment banking. The wider group also runs TBC Uzbekistan, which it describes as a leading digital financial ecosystem in Central Asia.

The introduction of palm payment marks a notable step in Georgia's payments market, where banks have focused on digital channels and non-cash transactions. For merchants, biometric payment tools could offer another way to handle in-store purchases without relying on physical payment instruments.

Questions around biometric payments typically centre on customer adoption, privacy safeguards and the scale of merchant acceptance. TBC has not disclosed how many locations will support the new method at launch.

Sandro Rtveladze, Retail Business Director at TBC, set out the bank's view of the rollout in the context of its wider digital strategy.

"At TBC, we have a long history of pioneering digital innovation in Georgia, from introducing the country's first internet banking services in 2001 to continuously expanding the range of convenient payment solutions available to our customers. With the introduction of palm payment, we are taking another step towards making everyday financial transactions simpler, faster and more seamless. Our ambition is to bring the latest global financial technologies to Georgia and turn innovative ideas into practical solutions that improve the customer experience. Palm payment demonstrates how we continue to push the boundaries of digital banking and strengthen our position at the forefront of financial innovation in the region," Rtveladze said.

Earlier this year, Global Finance named the bank the Most Innovative Bank in Central and Eastern Europe, recognising its work on digital financial services.

TBC Bank Group was founded in Georgia in 1992 and expanded into Uzbekistan in 2020. It is included in the FTSE 250 Index.