SEB Bank clients who have a mobile phone with Android OS are now able to pay for goods and services using their phones. It is possible to use mobile phones for transactions up to EUR 150 in Latvia and abroad using contact-free terminals, the bank reports.
To use a smartphone for transactions, it is necessary to create a digital bankcard using SEB Bank’s mobile app. This new function is available to all MasterCard debit and credit cards, including contact-free cards. To activate a card using a mobile phone, it is necessary to have NFC (Near Field Communication) wireless data transfer functionality.
“Clients’ desire to use digital and mobile channels to use the bank’s services and transactions tends to increase. This is why we are happy to make the next step towards digital development and offer our clients in Latvia and Estonia the option to pay for goods and services using their phones. Clients who have already used this option are happy with it,” stresses SEB Bank board member Arnis Skapars.
He stresses that mobile phone transaction functionality is currently running in test regime. “We invite clients to test it and provide feedback.”
Using mobile phones for transactions is the same as using contact-free cards.
“It is possible to do using contact-free payment terminals. However, mobile phones cannot be used to perform transactions with ATMs. For transactions under EUR 25 it is not necessary to input PIN code. However, for security purposes, it will be necessary to confirm identity and input PIN code or fingerprint (if biometric authentication is used) from time to time,” the bank explains.
Transactions worth EUR 25 to EUR 150 have to be confirmed using PIN code always. If a purchase exceeds EUR 150, customers have to use their payment card. (BNN/Business World Magazine)