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Mobile payments operator NCS awarded e-money licence

29 October 2004  |  6257 views  |  0 mobile phone motorola

Germany's NCS has received an electronic money licence from the country's Federal Institute for Financial Services Supervision (BaFin) allowing it to operate as a 'mobile payments bank' for payments and fund transfer services executed over wireless handsets.

The licence will enable NCS customers to make purchases using their mobile handsets. Registered customers will be able to store a total credit of EUR150 on their mobile phone. Payments will be limited to EUR30 per transaction and EUR 150 per week.

The company says the licence will enable it to extend its mobile payment system Crandy to other EU countries.

The first-ever European e-money licence was awarded to Norway's Contopronto in January this year. NCS is the first independent mobile phone provider in Europe to receive authorisation from Germany's BaFin.

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