SIX Payment Services has issued a SIM-based virtual credit card for making mobile payments in Austria.
Once installed, the mobile card, dubed PayLife 0100 after SIX’ consumer brand in Austria, appears on the mobile display of an Android 4.1 and above compatible phone and can be used to make tap-and-pay purchases at any eftpos terminal displaying the contactless symbol. The card can also be used for online shopping in the same way as a physical credit card.
Thomas Csipkó, managing director and head financial industry services Austria says: “The mobile credit card is the next big step in cashless payment. Mobility has become an integral part of our society - people always have their smartphone close by - and so mobile payments have become the future of the industry.”
Existing PayLife card custiomers can can sign up for the virtual card via the online service portal "myPayLife." The first year is free of charge, after which it costs EUR 0.90 per month.