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.”

Older news

Islandsbanki hf.: Fitch affirms Íslandsbanki BBB rating with stable outlook

26.11.2018 - IR Releases
Today, Fitch Ratings has affirmed Íslandsbanki's rating of BBB with a stable outlook.More

Pay with your phone

19.11.2018
Customers of Islandsbanki can now use conduct contactless payments with their phones all around the world.More

Consolidated Unaudited Interim Financial Statements 9M18

07.11.2018 - IR Releases
Íslandsbanki made a net profit of ISK 9.2 billion in the first nine months of the year and an annualised ROE of 7.1% (9.0% for regular operations).More

Íslandsbanki invests €3 million in Meniga’s digital banking solutions

06.11.2018
Meniga’s total investment from banks in 2018 reaches €9.1 millionMore

Nordic CEOs join forces for a sustainable future

01.11.2018
Today, a group of Nordic-based CEOs announced a joint initiative to speed up the realisation of the UN Sustainable Development Goals (SDGs). More

Íslandsbanki in cooperation with LATTICE80 the world’s largest fintech hub

01.11.2018
This spring, the Bank announced its intention to collaborate on developing future fintech solutions providing third-party access to information via...More

Islandsbanki hf.: Íslandsbanki will publish its financial results Thursday 8 November

31.10.2018 - IR Releases
Íslandsbanki will publish its financial results for the first nine months of 2018 during the morning of Thursday 8 NovemberMore
Netspjall