Daily magazine about Latvia www.latviannews.lv
The most dangerous moment for a bad government is when it begins to reform.
Alexis de Tocqueville
www.freecity.lv
Russian version

Citadele introduces mobile payment system in Latvia

Soon nearly 80% of smart-phone users will be able to process payments in stores, restaurants and other locations using mobile phones by scanning them with a card-reader terminal. Citadele is the first bank in Baltic States that had developed such a solution in cooperation with MasterCard.

This solution will be made available to more MasterCard users this summer, bank representatives promise.

Citadele also promise an appropriate level of security for payments processed using mobile phones and they will be allowed to be used for transactions that exceed EUR 10, which is the current limit for contact-free payment cards.

Citadele’s mobile payments platform is currently in beta. The bank’s employees and certain clients perform tests so see how to system behaves in different everyday payment situations to make sure the service is convenient, secure and accessible using different payment terminals in Latvia and abroad, bank representatives say.

Representatives also note the beta is the last stage before the mobile payment solution is made accessible to more people. This is planned to happen this summer. As for Lithuania and Estonia – Citadele plans to introduce this payment method in the second half of the year.

«We have entered a new era for transactions – from now on, all you have to do to pay for groceries is put your mobile phone to the payment terminal. Our phones have become the centres of our lives – we use them to take photos, film videos, surfing the internet, using different applications, etc. Now we can use them to perform payments,» says Citadele Bank’s board member Kaspars Cikmacs.

He continues: «Similar to how payment cards entered our lives, so will payments with mobile phones gradually replace transactions using payment cards and cash. Transactions using mobile phones are simple and secure. I can personally say that after testing mobile phone payments for two years I find it more convenient that reaching for my wallet and pulling out a payment card.»

Payments using mobile phones will be available first to people using Android OS. This means approximately 80% of phone users in Latvia, bank employees say.

For phones using other OS, Citadele plans to offer alternative mobile payment solutions – wristbands and NCF stickers (near-field communication), Citadele promises.

There are more than 8,000 locations in Latvia where it is possible to perform transactions using mobile solutions. By 2020, all transaction terminals in Latvia will have been converted to support non-contact functionality.

«Mobile transactions are rapidly picking up in popularity thanks to their convenience and processing speed. They are already available in most European countries. We are happy that together with Citadele we are able to make this payment method available to residents in Latvia,» says MasterCard Digital Development manager in Baltics and Nordic countries Mats Taraldsson.

BNN 
07-06-2017
Share:
Comments
Before the comment please read the rules of use our webpage.. Thank you.
Comment