Norwegian banking group DnB Nor and local telco Telenor have revealed plans to establish a new mobile payments program. The new mobile payments system, called Trusted Service Manager (TSM) Nordic, will be a subsidiary of Doorstep.
The move comes at the same time as a public trial of near field communications (NFC)-based contactless mobile payments technology by DnB Nor, Telenor and MasterCard.
The new company will distribute and maintain payment cards and tickets in handsets on behalf of issuers and in cooperation with mobile operators.
The pilot will use MasterCard’s PayPass contactless technology, which will enable customers to pay for low-value purchases at certain retailers in Oslo’s city center by tapping their handsets on a specially-equipped terminal. Customers are also able to pay for and store travel tickets using their handsets.