Mobile & Wireless

Elisa to launch m-payments service for students with Lyyra

Monday 6 August 2012 | 21:54 CET | News
Finnish mobile operator Elisa and the student-owned company Lyyra have signed an agreement to launch a new contactless payment method in the autumn. Named Elisa Lompakko (Elisa Wallet), the service will enable more than 100,000 students to make purchases using near field communication (NFC) stickers that are attached to their mobile phones. The system includes a payment sticker for contactless payments, separate online payment cards, an online and mobile application as well as money transfers between users. These payment tools have been developed in collaboration with MasterCard.
From the autumn of 2012, students will be able to pay for lunch at many student cafeterias via the Elisa Lompakko service. In addition to student cafeterias, contactless payments can be made via the service in other locations that use payment services based on NFC card technology.
The Elisa Lompakko payment sticker enables small payments of up to EUR 25. Payments are made by touching a reader with a mobile phone that carries a payment sticker compatible with the MasterCard PayPass technology. Payment stickers will be issued free of charge to Lyyra student card holders from the end of September until the end of 2012.
With the Elisa Lompakko service, users can create online payment cards with validity periods and payment limits of their choice. With the online payment cards, making purchases is easy and secure. Users can easily upload funds to the Elisa Lompakko service and online payment cards via online and mobile user interfaces, which also allow for money transfers among users. Identification takes place via mobile certificates, which makes the Elisa Lompakko service as safe as traditional payment cards.
In the early stages, the use of Elisa Lompakko requires that a payment sticker be attached to the mobile phone. In the next development stage, the contactless payment application will be included in the SIM card, which will render payment stickers unnecessary.

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Categories: Mobile & Wireless
Companies: Elisa / MasterCard
Countries: Finland
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