A group of French banks and mobile phone companies have created a mobile payments network
PARIS – Seven French retail banks and four of the country’s mobile phone operators have collaborated to create a non-profit association for the creation of an interoperable mobile payments service. The new European Association for Mobile Payment or Association Européenne Payez Mobile (AEPM) has been established after a successful regional deployment.
The initiative includes BNP Paribas, Crédit Agricole, Crédit Mutuel, Banque Postale, Caisse d'Epargne, Société Générale and Banque Populaire; Mastercard and Visa are also involved. Positive feedback has resulted in the scheme being expanded into 2009.
A year-long pilot scheme operating in French cities Caen and Strasbourg was overseen by the Secure Electronic Transactions (TES) from November 2007 to gauge customer satisfaction and interoperability with other systems.
Mobile networks involved include Bouygues Télécom, Orange, SFR and NRJ Mobile and handset producers LG, Motorola and Sagem. Payments during the pilot scheme ranged from €0.20 to €250.
AEPM says it has been established to promote wider uptake of the programme and to assist the ongoing work of the French government’s Contactless Mobile Services Forum, sponsored by secretary of state for industry and consumer affairs Luc Chatel.
More on Regulation
Japanese banks start to ponder how they will cope with new TLAC rules
State watchdogs issue warnings as insurers turn to proprietary index products
Greater flexibility welcomed, but problems may remain for mortgage lenders
FCA investigating delays and handling of mis-selling cases
Sign up for Risk.net email alerts
Sponsored video: Elseware
Oxford professor David Vines argues that the carrot is as important as the stick
Sponsored webinar: IBM
Watch highlights of this year's London conference
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.