Norway is set to roll-out Valyou, its first mobile NFC payment service, which is a collaboration between the country’s leading mobile operator and two of its largest financial institutions, recognising the growing importance of NFC technology to both businesses and consumers.
The Valyou NFC payment service, is a collaboration by Telenor, DNB and
SpareBank 1. Telenor is Norway’s leading mobile operator with 3 million subscribers in the country and some 180 million worldwide. DNB and SpareBank 1 are respectively the first and second largest financial services providers in the country. 4 more banks are already planning to join the Valyou community, enabling users to make secure payments at fast food restaurants, convenience stores and gas stations with a simple touch of their smartphone on an NFC-ready terminal.
“We are eager to promote NFC take up in Norway and provide all consumers with multiple innovative services, starting with payment and moving on to ID, access control, ticketing, loyalty and special offers,” comments Tor Jacobsen, CEO, Valyou.
According to Juniper Research, by the end of 2017 there will be a massive 2 billion mobile and tablet users engaging in some form of mobile commerce. NFC will be a prominent part of this growth, with two thirds of mobile being NFC enabled by 2018. Consumer demand for NFC is evident making it all the more important for UK industry to ensure that it has the proper infrastructure in place to secure consumer trust, cultivate this growth and harness the opportunity.