MobilePay
MobilePay is an application for credit card payments using smartphones developed by Danske Bank. The application was published on May 7, 2013, after Danske Bank discontinued its cooperation with other Danish banks on a common solution.
Technology
MobilePay is an application for phones with operating systems iOS, Android and Windows Phone. By downloading this application, users are required to connect a credit card and account information to their mobile number. Money transfers are performed by entering a mobile phone number which is registered in the system. The funds are then transferred to this account, while the amount is deducted from the sender's credit card.
Security
The application is protected by a user-selected four-digit personal identification number.[1]
History
Payment via mobile phones first became popular in Denmark, when DSB and the other traffic operators in the Copenhagen metropolitan area launched ticketing via SMS in January 2009, which worked as an extension of a similar system in Funen.[2]
In 2012, the Danish banks started a project with the aim of developing a joint solution.[3] Danske Bank choose to discontinue the cooperation at the end of 2012, quoting among other reasons that the joint system would not be useable outside of Denmark.[3]
On May 7, 2013, Danske Bank launched MobilePay, which by the end of 2013 had been installed 877.000 times.[4] The cooperation between the other banks was named Swipp, and was launched on June 13, 2013.[5]
Originally Danske Bank intended to offer MobilePay free of charge until the end of 2013, but then decided to let the system remain free of charge for private users even after this date.[5][6]