Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook
The Paypers, paypers, Insight in payments, News, Reports, Events
Mobile Payments

OP Financial Group brings contactless payment to Pivo mobile wallet

Thursday 5 March 2015 | 09:28 AM CET

Finland-based financial services group OP Financial Group`s customers will be able to pay for their purchases by mobile phone during the spring of 2015.

In practice, the payment is done by showing Pivo at the point-of-sale and moving the phone close to the payment terminal.

The purchases are debited to the customer`s OP debit card and the customer approves the transaction by entering the access code or other authentication code on the phone.

Pivo mobile wallet is OP`s application where customers can monitor their spending. Pivo calculates the average spending and shows where the money has gone. In Pivo customers can also view their status in various loyalty programmes or use benefits offers by shops and restaurants.

Contactless payment in Pivo is based on the NFC HCE technology. The payment solution and its security are founded on a technology specified by Visa where you do not need to change your SIM card in order to turn your phone into a payment instrument.

OP launched contactless payment cards in 2012 and now payment is also possible by mobile phone.

More: Link