Vodafone will allow customers to sync their bank cards to their Vodafone Wallet and use smartphones to pay for goods and services at contactless terminals, following a deal with Visa and Carta Worldwide.
Bank card payments via Vodafone Wallet will go live in European markets from the second quarter of 2015 onwards.
Mark Ritzmann, Head of mCommerce at Vodafone Group said: “The digital wallet just took another step forward.”
“With a few clicks, customers will be able to add payment cards to their Vodafone Wallet and use Android smartphones to pay at contactless terminals,” he added. “Thanks to our agreements with Visa and Carta Worldwide, using bank cards stored on Vodafone Wallet is fast, secure and simple.”
The new service will require a Vodafone NFC SIM.
In order to use it, customers must input their bank cards to the Vodafone Wallet app, where an alias of each card is stored securely in the Vodafone NFC SIM. After confirming ownership of the card using Verified by Visa authentication, they can pay by tapping their phones against a contactless point-of-sale terminal. Users will also be able to check their mobile payment transaction history using their phones, wherever they are.
Whitepapers
Related reading
2020 hailed “year of contactless” by payments study
By Richard Young The coronavirus crisis has caused a surge in mobile and contactless payments, driving consumers to make fewer but larger ... read more
Redefining remittances: Fintechs during coronavirus
By Daumantas Dvilinskas, CEO and co-founder, TransferGo According to new projections by the World Bank, remittances are set to decline by as ... read more
Crypto’s safe-haven status wavers amidst market crash
Perceptions that cryptocurrency performs autonomously from other markets is being questioned as bitcoin crashed by 50 percent on March 12. Market participants ... read more
COVID-19: our action plan
Dear reader, As the coronavirus pandemic spreads, we continue to hear and read unsettling stories from around the globe. At Payment Eye, ... read more