MobilePay

MobilePay™ is an application for Credit card payments via smartphone developed by Danske Bank. The application was released on May 7, 2013,^[1] when Danske Bank discontinued the coorperation with other Danish banks about a common solution.

Technology

MobilePay is an application for mobile phones with the operation systems iOS, Android and Windows Phone. By downloading this application, users are asked to assign a Credit card and account information to their mobile number. Transfers are made by entering a mobile number, which is known in the system. The money is then transferred to this account, while the amount is transferred from the credit card of the sender.

Safety

The applikation is protected by a four-digit Personal identification number which the users choose themselves.^[2]

History

In 2012, the Danish banks entered a coorperation with the purpose of developing a common solution. At the end of 2012, Danske Bank choose to discontinue the coorperation, stating as one of their reasons, that the selected system would not be useable outside Denmark.^[3]

On May 7, 2013, Danske Bank launched MobilePay, which by the end of 2013 had been downloaded 877.000 times. In mid-2015, the system had about 1.6 million users, and can thus be considered extremely popular.^[4] The competing system, developed jointly by the other banks, was named Swipp, and was launched on june 13th, 2013.^[5] While originally designed primarily as a person-to-person payment system, major Danish supermarket chains and other retailers also began accepting the system in 2015.^[6]

Originally, Danske Bank wanted to offer MobilePay for free until the end of 2013, but choose to continue to make the system available free of charge until January 1, 2016.^[7] In 2014, it was announced that the system will remain free of charge for private users permanently. ^[8]

References