Contactless payments via mobile phone

04.10.2018

Íslandsbanki announces a new solution that will allow users to pay for goods and services at all point-of-sale (POS) terminals using their mobile phone. This represents a large step towards simplifying cardholders’ methods of payment. The new solution will be presented in detail in the coming term, and customers will be invited to take part in testing. At first, it will be available only for Android phones, but an iOS version is expected shortly thereafter. 


One-fourth of instalment payment plans activated via app
A number of innovations have been introduced recently in the Bank’s Kreditkort app, which allows users to see their real-time card balance, configure their credit limit, freeze their card, obtain a PIN number, and see their loyalty club point balance. It is also possible to split credit card bills and individual card transactions into instalments, a feature that is offered in Iceland only by Íslandsbanki. Over a fourth of customers who set up instalment payments do so in the app. It is also possible to use the app to activate Fríða offers and have discounts reimbursed by direct deposit to the customer’s account.

Birna Einarsdóttir, Chief Executive Officer:
“We are proud to introduce a new means of payment as part of our rapidly expanding suite of digital solutions. We have completed the renewal of our core systems and have launched a number of innovations that our customers are delighted with. The Bank has never been as well prepared for technological advances as it is today. With this most recent addition to our repertoire of tech solutions, customers will be able to pay for goods and services with their mobile phones — a vast simplification and a great improvement to the strong service we provide.”

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