Phone meets wallet in Norway

5 years ago by in Financial Services

Valyou uses NFC-technology and will include cards from all service/content providers that have an agreement with TSM Nordic AS, the jointly owned company by Telenor and DNB. Valyou can be used at any merchant that accepts contactless payments. To pay with a virtual card, in the new wallet, all you need to do is swipe your phone over a terminal. For purchases over NOK 200 you will need to enter a PIN-code.

In the long-term it is expected that Valyou will serve as an adequate substitute for the traditional wallet. The wallet’s main objective is to be safe and easy for customers to use. DNB is the first in Norway to add a virtual card to the mobile wallet Valyou. Other big Norwegian bank card providers such as Skandiabanken, EnterCard, Sparebank1 and Fana Sparebank have also decided to join in the course of 2014, which means their cards will soon be available as well.