19 October 2017
Find out more

Mobile payments operator NCS awarded e-money licence

29 October 2004  |  6194 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.

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

Contopronto targets Saudi m-payments market with Zafa alliance

Contopronto targets Saudi m-payments market with Zafa alliance

31 March 2004  |  4077 views  |  0 comments
Contopronto wins e-money licence

Contopronto wins e-money licence

06 January 2004  |  6331 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15649 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8810 views comments | 16 tweets | 22 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7911 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7051 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6180 views comments | 6 tweets | 3 linkedin

Featured job

London, UK (or flexible)

Find your next job