Danish payments provider Nets partners with 62 banks on mobile payments
Nets, the payments provider in the Nordic region, is working with Danish banking collective, the BOKIS partnership, to launch a new NFC mobile wallet solution powered by its HCE and tokenisation platform.
The BOKIS partnership comprises 62 banks that form the small to mid-sized banks segment of the Association of Local Banks, Savings Banks and Cooperative Banks in Denmark, together with five Danish regional banks: Sydbank, Jyske Bank Arbejdernes Landsbank, Spar Nord Bank and Nykredit Bank. The mobile wallet will be available to all the participating banks.
The partnership also means Nets will handle payment card services for the 62 banks until 2018.
“We are excited to be the first in Denmark to announce our plans to deliver bank-issued mobile wallets from our members, providing a mobile payment solution that delivers real payment convenience to our customers,” comments Søren Nicolaisen, Managing Director, Danish Regional Bankers Association. “End users will be able to pay just by ‘tapping’ their phone at the contactless point-of-sale.”
Nets will provide the HCE and tokenisation infrastructure that is in line with international security standards. The payment credentials stored in the mobile device are replaced at the point of transmission with a unique randomly generated identifier, or token, ensuring the information exchanged between phone and terminal doesn’t contain sensitive data.
The deal comes just a few months after Nets partnered with Japanese payments scheme JCB, to bring mobile payments to the Danish nation debit card, Dankort.