Czech Republic: Telefónica and GE Money Bank Launch NFC Payments Service with PayPass
Telefónica Czech Republic introduces its O2 Wallet with the launch of NFC services, which includes GE Money Bank, the fourth largest bank in the Czech Republic, and MasterCard Worldwide. The service enables customers of the telco and bank to tap to pay anywhere PayPass is accepted. That includes 15,000 point-of-sale terminals in the Czech Republic, or about 20% of the roughly 70,000 POS terminals in the country. For amounts up to CZK 500 (US$26.47), users don’t have to enter a PIN code. GE Money Bank said it would offer both credit and debit applications to customers who request the service and who are also subscribers of Telefónica and won’t charge extra for the service. The application will be stored on NFC SIM cards issued by Telefónica.
GE Money Bank and Telefónica O2 in January launched the first commercial NFC service in the Czech Republic and the first by an O2 operator in Europe. But to get those bragging rights, the parties had to preload the MasterCard PayPass application on the Telefónica SIM cards, according to GE Money, which took the rare move of having the application personalized on SIM card and mailing out the cards to customers, who would then to go their O2 branch to get their phone number registered on the cards.* Trusted Service Manager: Defined loosely to include companies or other organizations securely distributing, provisioning and managing applications, generally over the air, on secure elements in NFC mobile phones; or licensing their platforms for this purpose.
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Last update: July 2013