Contactless payments via mobile phone

04.10.2018

Íslandsbanki announces a new solution that will allow users to pay for goods and services at all point-of-sale (POS) terminals using their mobile phone. This represents a large step towards simplifying cardholders’ methods of payment. The new solution will be presented in detail in the coming term, and customers will be invited to take part in testing. At first, it will be available only for Android phones, but an iOS version is expected shortly thereafter. 


One-fourth of instalment payment plans activated via app
A number of innovations have been introduced recently in the Bank’s Kreditkort app, which allows users to see their real-time card balance, configure their credit limit, freeze their card, obtain a PIN number, and see their loyalty club point balance. It is also possible to split credit card bills and individual card transactions into instalments, a feature that is offered in Iceland only by Íslandsbanki. Over a fourth of customers who set up instalment payments do so in the app. It is also possible to use the app to activate Fríða offers and have discounts reimbursed by direct deposit to the customer’s account.

Birna Einarsdóttir, Chief Executive Officer:
“We are proud to introduce a new means of payment as part of our rapidly expanding suite of digital solutions. We have completed the renewal of our core systems and have launched a number of innovations that our customers are delighted with. The Bank has never been as well prepared for technological advances as it is today. With this most recent addition to our repertoire of tech solutions, customers will be able to pay for goods and services with their mobile phones — a vast simplification and a great improvement to the strong service we provide.”

Older news

Íslandsbanki issues EUR 300m bond and announces partial buyback of its 2020 EUR 500m bond

04.04.2019 - IR Releases
Íslandsbanki has today issued a EUR 300m 1.125% fixed rate senior unsecured bond for 3 years, at a spread of 130 basis points over mid-swaps.More

Annual General Meeting 2019 - agenda, candidates and proposals

19.03.2019
The Annual General Meeting of Íslandsbanki hf. will be held on March 21, 2019 at the Bank's headquarters, Hagasmári 3, 201 Kópavogur at 15:00.More

Publication of 2018 Annual Report and Pillar 3 Report

13.02.2019 - IR Releases
Íslandsbanki has published an Annual Report and Pillar 3 Report for 2018. More

Annual Results 2018

13.02.2019 - IR Releases
The Bank and Íslandssjóðir turned in a good operating performance during the year, with a consolidated profit of ISK 10.6bn, while operational...More

Publication of 2018 year-end results

30.01.2019 - IR Releases
Close of business Wednesday, 13 February 2019More

Íslandsbanki to terminate credit rating contract with Fitch Ratings

30.01.2019 - IR Releases
Íslandsbanki informs that following expiration and by agreement of parties, the credit rating service contract between Fitch Ratings and Íslandsbanki...More

Ásmundur Tryggvason to direct Corporate and Investment Banking

23.01.2019
Ásmundur Tryggvason has been engaged as director of Corporate and Investment Banking at Íslandsbanki. He replaces Vilhelm Már Þorsteinsson, who will...More
Netspjall