Mobile Phones in the Role of Payment Cards
NFC technology is used for the transfer of data necessary for payments (card number, expiration data, etc) from mobile phones to POS terminals and allows smartphone users to pay for goods and services simply and quickly, by waving their mobile device by the PayPass POS terminal. MasterCard credit card information is stored in the SIM card of the mobile phone, in line with strict security standards, which ensures the highest level of protection from potential fraud and information theft, along with dynamic updating of parameters through the mobile phone network, aimed at adequate control of use.
„After analysing the current trends and innovations, as well as the habits and needs of Banca Intesa card holders, we have decided to enable our clients to pay for their purchases by mobile phone at POS terminals, in addition to contactless payments by payment card. Given the penetration and number of these devices, as well as the significance of mobile phones in the everyday life, we intend to continue with our research and development in this field, in order to allow users in the local market to use state-of-the-art products and services when it comes to payment cards. We expect other credit card companies to back NFC and contactless technology in the Serbian market too, as well as an increasing number of users of mobile phones adequate for this type of payments“, said Miloš Nedeljković, Head of the Payment Cards and Direct Channels Department at Banca Intesa.