Under the terms of the deal, Oberthur Technologies is set to be Movistar and Banco Santander’s Trusted Service Manager (TSM) and to provide an end-to-end solution for their Near Field Communication (NFC) pilot. After the initial trial with selected end-users and participating shops in the Santiago area, the service is set to be opened throughout Chile with 5,000 compatible payment terminals expected by the end of 2013.
The NFC service provided by Oberthur Technologies includes a TSM to deploy and manage the service Over-The-Air (OTA), NFC SIM cards, a Mobile PayPass payment application and a mobile wallet allowing end-users to activate their payment cards and view their transactions history from their Samsung Galaxy S3 phones.
Banco Santanders MasterCard payment card is set to be secured by the NFC SIM card. Once the payment card is activated on their NFC SIM cards, the end-user are able to pay for goods by tapping the phones onto contactless payments terminals.
In recent news, Swedish social payments company iZettle has entered a definitive agreement with Banco Santander.
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