Your mobile becomes your payment card
The mobile contactless payment solution, Valyou, is now being launched.
Well over 400 stores in Norway already accept contactless payment with both Valyou and contactless payment cards. 10 to 20 new stores are being added every week.
Last Friday, the CEO’s of Norwegian banks DNB and SpareBank1 Group, and mobile operator, Telenor Group; demonstrated the contactless mobile payment solution, Valyou. The demo took place at the convenience store chain, Deli De Luca, at Oslo Central Station.
“Once you’ve installed Valyou, you can easily pay with your mobile, both in Norway and abroad,” said Rune Bjerke, Chief Executive Officer of DNB.
“Some innovations immediately become the obvious choice for the future. This is the case for contactless payment through your mobile – it’s just a matter of time before we are all using our mobile phones to pay,” said Jon Fredrik Baksaas, President and Chief Executive Officer of Telenor Group.Valyou = an app
Valyou is a mobile app, which is available in Google Play and allows you to download a mobile version of your Visa-card. In order to download the app, you need to be a customer of both DNB and Telenor, and have a mobile phone with a new service-supporting SIM-card from Telenor. As of next year, Telenor customers using SpareBank1, Skandia Bank, yA Bank, Fana Sparebank and EnterCard will be able to provide the same service.
The three executives have great belief in Valyou. They are confident that in a few years, mobile payment will be more widespread than the current use of bank cards – given more providers will offer the service.
“We have invited both banks and other telecom operators to join us. Several more banks are offering the new payment method in 2015. SpareBank1 has also joined the ownership side of Valyou,” said DNB’s Bjerke.
“In order to have all Norwegians enjoy this solution in the future, we want other mobile operators to also provide this service,” adds Telenor’s Baksaas.
“SpareBank1 has joined as an owner as we want to be involved in influencing the future of payment solutions,” said SpareBank1 Group’s Kirsten Idebøen. “In addition, it’s important for us to build expertise within this type of technology, to provide even better and easier services for our customers.”Easy and Secure
“Not only is Valyou fast and easy to use, it is also as safe to use as a regular debit card,” says CEO at Valyou, Tor Jacobsen.
The security solution used by Valyou is approved by Visa.Valyou
The mobile payment solution, Valyou, is developed through a cooperation between DNB and Telenor. The solution will be continuously improved by Valyou, owned by DNB (42.5%), Telenor (42.5%) and SpareBank 1 (15%).Facts:
- Valyou is developed by Telenor and DNB.
- Today owned by Telenor (42.5%), DNB (42.5%) and SpareBank1 (15%).
- 300 customers have tested the solution during the summer.
- The Valyou app is now available in Google Play, and will be regularly updated during the launch phase
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