German cooperative bank Dortmunder Volksbank (DV) has introduced a mobile payments service that enables customers to make payments with their NFC mobile phone at any merchant equipped to process MasterCard PayPass contactless transactions.
DV is working with Telefónica O2 on the service, which is now live in the city of Dortmund. Customers can opt in to the service by stating their interest at any DV branch. They must be contracted to O2, and have either a Samsung Galaxy S III or Galaxy Ace 2 NFC phone and an NFC SIM to take part.
The new ClassicCard Mobile credit cards are issued by WGZ Bank
, a regional umbrella organisation representing 230 cooperative financial institutions. The card details are stored in the customer's SIM and integrated with Telefónica's O2 Wallet app.