Based on bluetooth low energy (BLE) technology, the service will allow contactless payment from all phones with Swipp. The user experience will be very similar to that of near field communication (NFC) payments - consumers will need to simply tap the phone in front of the terminal and swipe for approval.
The partnership will allow approximately 800.000 Danes who currently use Swipp to use mobile payments to pay for their goods in store on a day to day basis. Currently, more than 50 % of all terminals in Denmark are supplied by Verifone.
Moreover, consumers will be able to benefit from Swipp’s high transfer limits, allowing them to pay up to DKK 25.000 (equivalent of EUR 3000 or USD 3.600) per day.
The solution will be available for both stand-alone terminals in the SME market, as well as larger retailers with ECR-integrated terminals.
The development of the app is supported by more than 70 banks in Denmark.
Also, the service will be live at a number of joint clients starting with December 2015.
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