Valitor announced today that the company has partnered with Oberthur Technologies, the world’s second largest provider of security and identification solutions and services based on smart card technologies, and with Visa Europe to launch Iceland’s first mobile contactless payments project.
Using Orberthur Technologies’ SIM card product, which offers integrated support for NFC (Near Field Communications) to power mobile contactless payments, the partners will work with Iceland’s key mobile network operators, to select 1,000 participants for the initial implementation in January 2012.
The full pilot will begin in the second half of 2012. Building on Valitor’s acquiring and issuing relationships with the Icelandic banks and combined with the availability of up to 600 mobile contactless enabled Point of Sale terminals in the greater Reykjavik area, the new technology will be available to the majority of the country’s population.
The partners chose Iceland as the ideal test market for the project based on the size of the population and its concentration in the Reykjavik area. Combined with high mobile and card penetration, Iceland’s population profile will enable the partners to monitor cardholder and merchant response to mobile contactless payments ahead of a full commercial launch late 2013.
Supporting partner quotes:
Vidar Thorkelsson, CEO at Valitor: “We have been cooperating closely with Oberthur Technologies and Visa Europe for many years. With this new agreement, we reinforce our willingness to have the necessary support and expertise in implementing Iceland’s first mobile contactless payments trial. This new technology will soon become a reality for all the citizens, who will experience the convenience, security and speed of mobile contactless payments.”
Mr. Fredrik Westerman General Manager, Nordics and Baltics, Visa Europe: “Iceland is one of our most successful markets. The size of the market and high card penetration makes Iceland an ideal test environment to drive our ambition to help realise the future of payments.”
Eric Duforest, Europe Managing Director, Oberthur Technologies: “With more than 15 years of experience in this market, we know that the Icelandic population is an early adopter in terms of new technology and new payment applications. At Oberthur Technologies, we are strongly promoting NFC technologies for its seamless usage and high security.”