Valitor begins Mobile contactless payments in Iceland
Valitor, a leading cross boarder acquiring solutions provider, has joined Oberthur Technologies, and Visa Europe to launch Iceland’s first mobile contactless payments project.
The project will use Orberthur Technologies’ SIM card product, which provides integrated support for NFC (Near Field Communications) to power mobile contactless payments. The stakeholders started working with Iceland’s key mobile network operators, Síminn and Vodafone, in January as part of the initial operation.
Vidar Thorkelsson, Valitor’s CEO explained “We have been cooperating closely with Oberthur Technologies, and Visa Europe for many years. With this new agreement, we reinforce our willingness to have the necessary support and expertise in implementing Iceland’s first mobile contactless payments trial. This new technology will soon become a reality for all the citizens, who will experience the convenience, security and speed of mobile contactless payments”.
The full pilot of the project will start in the second half of 2012 in the greater Reykjavík area. Valitor has acquiring and issuing relationships with the Icelandic banks Arion Bank, Landsbankinn, Íslandsbanki, and MP bank, which all together have around 95% of the market share.
Valitor, Oberthur Technologies and Visa Europe chose Iceland as the first test market for the project due to the country’s population, and its concentration in the Reykjavík area. Combined with high mobile and card penetration, Iceland’s population profile will allow the companies to monitor cardholder and merchant reaction to mobile contactless payments ahead of a full commercial launch in late 2013.
To find more about mobile contactless payments in Iceland and cross boarder acquiring solutions, go to www.valitor.com.