Danish mobile payment app Swipp and Verifone Europe have inked an agreement to integrate Swipp as an accepted payment method for more than 30,000 Danish merchants using Verifone devices.
The development of the app has been supported by more than 70 banks in Denmark.
Based on Bluetooth Low Energy (BLE) technology, the service will allow contactless payment from all phones with Swipp. The user experience will be very similar to that of Near Field Communication (NFC) payments.
The partnership will allow more than 800,000 Danes who currently use Swipp to use mobile payments to pay for their goods in store on a day to day basis – currently more than 50% of all terminals in Denmark are supplied by Verifone.
Consumers will also be able to benefit from Swipp’s high transfer limits, allowing them to pay up to DKK 25,000 (equivalent of EUR 3000 or USD 3,600) per day. The service will be live at a number of joint clients from December 2015.
The Swipp app relies on account-to-account payments with low transaction costs, no intermediaries and no risk of the payment not getting through to the merchant. Integration from the app directly to the Verifone terminals means no project costs, no extra devices and low barriers to adoption. The solution will be available for both the stand-alone terminals in the SME market as well as the larger retailers with ECR-integrated terminals.
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