Fast and easy payments by smartphone or bank card

Mobile payments by smartphone hold the future. It is an easy, safe and fast payment method. Smartphones also offer possibilities for potentially taking over more functions from the wallet. Rabobank is having a small group of customers carry out a final test of the bank’s mobile wallet - the Rabo Wallet – this Monday. Once the findings of this test have been processed, the Rabo Wallet will be made available to all customers who have a suitable smartphone.

Customers want to be able to pay quickly, easily and safely. Contactless payments is a new payment method that fulfils this need. It makes it possible to make a payment directly from the bank account by briefly holding a smartphone or bank card against the terminal. The smartphone or bank card must have a chip for Near Field Communication (NFC) in order for this to be possible. Payments are made more quickly because customers can pay amounts under 25 euros without entering a personal identification number.

The Rabo Wallet is an app that is suitable for smartphones that have NFC and fulfil stringent security requirements. Payments must be just as safe as when paying with the traditional Rabo bank cards. Some smartphone models have now been equipped with an NFC chip and meet the safety requirements. The Samsung Galaxy 4 and the Samsung Galaxy Note 3 are the first suitable devices.

Customers and businesses are at the same time asking for a faster and broader introduction of contactless payments. This is why Rabobank will equip its bank cards with a chip that will also enable contactless payments in this way from February 2015. Customers who currently use Chipknip or MiniTix will automatically receive a new bank card. Other customers will receive a new bank card when their current one is due for replacement.

Other payment services will be phased out now that this form of payments is becoming the new standard. A uniform payment method prevents confusion in terms of usage. All businesses and institutions that accept MiniTix will in the course of 2015 be given the option of accepting payments by smartphone or contactless bank card alongside traditional debit payments.

For further information
Press Office Rabobank
Margo van Wijgerden
+31 30 21 60967 or +31 6 1212 7988