A Bunch of New Ways to Pay with your Mobile

Now, several new services will be launched around Europe where you will be able to pay with your mobile device on different credit or bank card terminals. One of these services have children and young adults as their main consumer group.

Since last summer, it has been possible to pay with your  mobile phone directly through credit card terminals around nordic country Sweden with the help of an app called “SEQR”. Now the company's new product “SEQR Go” who caters to children and adolescents - will be released later this year.

How does it work then?

A parent may transfer funds to their child's virtual account, and then the child can pay the retailer by "bliping" the cell phone at the the card terminal. However, this requires an Android phone, and both the terminal and the phone need to have so-called NFC technology integrated - which allows the phone and the card terminal to "talk" to each other without physical contact. Fortunately this technology has been integrated in Android-compatible phones for quite some time now; so if your kid have a relatively new Android phone - this shouldn’t be a problem. 

Only the money that has been put on the account can be used, which means that your children can not use money that don't exist “physically” on the account.

- “The app will be equated with cash”, says Peter Fredell, CEO of Seamless, the company behind the app.

Parents can of course also keep track of the receipts to see which transactions that have been made, or not been made. So if your newly 18 year old youngster have been playing some Live Blackjack, you will be notified :)

Many are perhaps wondering what would happen if your phone is lost or stolen? Can someone else use the mobile to shop for you or your child’s money?

- “To start with, almost everyone has a PIN-code on their phone. And for a transactions of over 200 Swedish Kronors (around £ 20) an additional PIN is required”

Last week the mobile payment service “Samsung Pay” was launched  in Sweden. This function is integrated in Samsungs latest phone models, and so far, some of the bigger banks in sweden are on the train with this new technology. “But more banks are joining as we speak”, says Oscar Happy, head of Samsung Pay in the Nordic region - which comprises of Sweden, Denmark, Norway and Finland. A combination of the techniques NFC and MST are used here.

- “At the moment it works on virtually all card terminals in Sweden”, Oscar ads

To secure the payments some safety measures are required by the user, including fingerprints. No age limit is required from Samsung's part. However, such a limit can be implemented by the card issuer- when the service needs to be connected to a debit card or something similar. 

- “This makes things so much easier and smoother”, says Bengt Nilervall, transaction-expert at the Swedish Trade Federation.

He sees advantages for both customers and merchants, and mentions that the long checkout queues can go faster, as an example.

According to Nilervall there are currently NFC technology in about 15 percent of the country's Debit card terminals, and the goal is to reach 50 % in 2017. “There are more mobile payment services, such as Apple and Android Pay, - unfortunately not yet here in Sweden.”

Guest Article by Andre Utas

London buses now accept NFC contactless payments, if you have the magic logo

Transport for London has emailed customers to announce the activation of NFC contactless payments on the city's fleet of 8,500 buses, despite any hiccups on the tube. From today, anyone who swipes a debit, credit, or charge card with the logo shown after the break should theoretically be allowed onboard for the same single fare as a traditional Oyster Card user. That's £1.35 instead of the £2.30 cash fare. The logo can also be found on Orange's Quick Tap-enabled Galaxy S III, but the official email makes no explicit mention of any smartphones being compatible. If you have the guts to swipe your GS III over the reader and test it, please let us know if it works (and it's probably better to try it discreetly, in case it doesn't). Customers are also being advised to avoid swiping wallets which contain two potential payment methods -- such as an NFC card and an RFID-based Oyster Card -- so they can control which card gets billed.

[Source: Engadget]

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[Source: Engadget]

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