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16 June 2004
BRUSSELS – Banksys, which runs Belgium’s Mister Cash Bancontact and Proton electronic payment systems, plans to develop a system that would allow customers to pay in stores via mobile phones, Belgian news agency Belga reported Wednesday.
The first tests are due to be ready during the course of 2005, and the goal is to have everything up and ready towards the end of the following year.
It would work like this: After the merchant indicates a customer wants to pay via a mobile phone, the customer would receive a text message requesting his or her permission. The consenting customer would then answer “yes” and type in a secret code. Once the transaction is complete, the merchant would receive a notice via the store’s own terminal, much the same way that credit-card payments are done nowadays.
It is foreseen that the new method of payment would be allowed in transactions up to EUR 125, the current limit for payment with Proton debit cards.
[Copyright Expatica 2004]
Subject : Belgian news