M-wallet: Santander Proposing New Visa and MasterCard Mobile Solution
- Banco Santander and Orange have partnered on the development and deployment of an NFC wallet integrating both Visa and MasterCard acceptance networks. This service has also required the help of Oberthur Technologies, the processor Redsys, as well as Ingenico and RiM.
- Customers will be able to pay using either MasterCard and/or Visa network in stores disposing of NFC compatible POS* devices, whatever the amount of the transaction.
- Tests are currently being conducted in a limited number of Madrid-based stores. Partaking merchants are equipped with BlackBerry cell phones, with embedded NFC technology, and the installed m-wallet to have their MasterCard and Visa virtual card stored. They will also be able to manage their password and access their banking portal using the same app.
- The originality of this initiative relies in the availability of both international card networks on a single medium. Santander –like the other Spanish banks– is taking advantage of an overall interest in mobile media to trial pioneering solutions.
- In January, several contactless projects have been launched in Spain (by La Caixa, BBVA and Bankia): merchants have been equipped with compatible POS devices, the ATM* estate is currently being renewed and cardholders’ adoption first being ensured through the deployment of contactless cards (see January 2012 Insight). These projects do not however exclude future mobile developments.