NFC Times Exclusive – French banks and their bank-owned domestic payments network STET plan to launch mobile payments in the first quarter of next year with a “large smartphone vendor” using the domestic payment network’s own token service provider, STET told NFC Times.
The tokenization play will compete with Visa and MasterCard, and STET is seeking to take its new token service provider offer outside of France, as well. It says it has answered several calls for tenders from European banks and expects to provide tokenization for some European projects in coming months.
The network didn’t name the mobile payments service from the smartphone maker for which it plans to provide tokenization, but it might be Samsung Pay, since STET confirmed that France-based Oberthur Technologies will provide the provisioning of payment applications to Samsung’s wallet. Oberthur recently announced it had an agreement to do provisioning for STET and its associated domestic payments scheme, Cartes Bancaires.