Spain-based CaixaBank has selected Morpho (Safran) to use its trusted service management (TSM) system for mobile payments made through near field communication (NFC).
The move is the largest NFC mobile payment deployment in Europe and the first to involve the Subscriber Identity Modules (SIM) of all major Spanish telecom operators.
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Morpho’s TSM will allow CaixaBank customers to make payments through their NFC mobile devices. The TSM service has the provision of accepting VISA payment application and incorporating bank card data into customer SIM card.
As part of the deal, NFC payments will be accepted by wide number of contactless terminals from various merchants, representing over 300,000 points of sale (POS) in Spain.
Morpho Business Solutions Division banking business unit vice president and general manager, Paolo Villasco, said the NFC market is entering into a new phase.
"2014 will be the starting point for commercial rollouts in Europe and certainly the basis for successful development of the global mobile payment market," Villasco added.
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By GlobalData
