Looking to expand commercial offering
Paybox NFC enables customers to use their NFC-enabled smartphone to make mobile payments for transactions of up to EUR25 without having to enter a PIN for authentication. The solution is supported by Telekom Austria’s subsidiaries A1 Telekom Austria and paybox Bank (a specialist in mobile payment solutions owned by A1 Telekom Austria). (view press release)
A testing is phase is being initiated from now until summer during which 5,000 customers will be able to test the service in various McDonald’s restaurants and Merkur (an Austrian supermarket chain) stores. Following the pilot stage, A1 Telekom Austria will look to expand its commercial offering through a series of new partnerships.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
