Co-operative banks in Germany are piloting NFC mobile payment stickers developed specifically for the country's Secure Chip Card Operating System (Seccos).
The Seccos Mobile payment sticker has been developed by Giesecke & Devrient (G&D) and can be used at contactless terminals equipped for MasterCard PayPass. Depending on the requirements of the issuing bank, the stickers can be configured as prepaid, debit, or credit cards.
The Deutsche Genossenschafts-Verlag (DG VERLAG), system integrator and partner of cooperative banks as well as other institutes, is supplying the new technology to Sparda-Bank Hamburg and Donner & Reuschel as part of a trial conducted by the cooperative financial group.
The sticker can be used to make payments of up to EUR25 without the need for PIN entry. G&D claims the technology cuts the transaction time by about a quarter compared to a regular card payment and by half compared to cash payments. For amounts above EUR25, the issuing bank determines whether authentication by PIN or signature is required.