18 December 2017
visit http://response.ncr.com

Contopronto wins e-money licence

06 January 2004  |  6351 views  |  0 mobile phone

The first-ever European e-money licence allowing for payments and money transfers to any bank, credit card, business or individual through mobile phones has been granted to Norwegian-based virtual bank Contopronto.

Issued by the Norwegian Royal Ministry of Finance, the licence allows for the international expansion of Contopronto's mobile-based payment system, which was first rolled out to Norwegian businesses and personal users last year.

In Norway, merchants such as McDonald's, Peppe's Pizza, and the country's number one loyalty programme Trumf have participated in the one-year pilot. Contopronto users dining at McDonald's or Peppe's, for example, text the billing code for their meal into their mobile to transfer payments to the restaurant's account.

Carrier-independent, the system has also been adopted for paying salaries direct to mobiles and online gambling, and will soon be made available in taxis in 25 cities in Norway. Contopronto currently claims 10,000 active users in its home territory.

The company recently opened its first office abroad in London and is in discussion with Norwegian and UK airlines about the possibility of using the system for the sale and delivery of flight tickets.

The new e-money licence will open up the application for international money transfers says Contopronto CEO Morten Hofstad.

"Contopronto users only send a text message and within a matter of seconds, rather than days, the transaction is completed for a fraction of the cost of a traditional funds transfer," he says. "Funds can be sent in any currency. For example a person in Denmark can send either kroners, pounds, euros or other currencies to someone in London."

Funds to a maximum value of EUR1250 can be sent to anyone, even if they are not Contopronto members, says Hofstad. Once a payment is accepted an account will be automatically opened.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

UK mobile payments start-up licenses Sanchez core banking system

UK mobile payments start-up licenses Sanchez core banking system

03 December 2003  |  5180 views  |  0 comments
JCB to test biometric authentication for mobile payments

JCB to test biometric authentication for mobile payments

04 November 2003  |  29652 views  |  0 comments
Sony and NTT DoCoMo in mobile payments joint venture

Sony and NTT DoCoMo in mobile payments joint venture

27 October 2003  |  6278 views  |  0 comments
Nokia and Visa enter secure mobile shopping alliance

Nokia and Visa enter secure mobile shopping alliance

23 September 2003  |  5427 views  |  0 comments
Japanese telcos to launch mobile payments service

Japanese telcos to launch mobile payments service

21 August 2003  |  5707 views  |  0 comments
SNS Bank to offer money transfers via i-mode

SNS Bank to offer money transfers via i-mode

14 August 2003  |  6697 views  |  0 comments
Mobipay adds 10,000 Spanish taxis to merchant base

Mobipay adds 10,000 Spanish taxis to merchant base

25 June 2003  |  3857 views  |  0 comments
Mobile operators launch Simpay brand

Mobile operators launch Simpay brand

23 June 2003  |  8374 views  |  0 comments
MasterCard to introduce MoneySend P2P payments in Europe

MasterCard to introduce MoneySend P2P payments in Europe

20 June 2003  |  37730 views  |  0 comments
Network365 closes $12 million funding round

Network365 closes $12 million funding round

19 June 2003  |  2804 views  |  0 comments
ECB lays out e-money guidelines

ECB lays out e-money guidelines

23 May 2003  |  4172 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.aciworldwide.comvisit http://cib.db.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
11315 views comments | 3 tweets | 4 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
10389 views comments | 21 tweets | 26 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7823 views comments | 19 tweets | 22 linkedin
Digital banking startup Loot secures £2.2 million seed roundDigital banking startup Loot secures £...
7579 views comments | 5 tweets | 11 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
7469 views comments | 6 tweets | 26 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job