Alpha Bank and Vodafone introduce the first contactless mobile payments application in Greece

Following the implementation of the first contactless card transaction in the Greek market in March 2012, Alpha Bank is now undertaking the first contactless transaction on a mobile phone.

Alpha Bank and Vodafone, in partnership with Visa Europe and First Data, introduce Tap ‘n Pay, the first mobile phone application for contactless payments in the Greek market, according to a press release.

Tap ‘n Pay, an innovative „mobile wallet” application, ensures a fast, easy-to-use and secure payment process, by taking advantage of new opportunities offered by the Near Field Communication (NFC) technology.

This ground-breaking application requires the use of a special Vodafone mobile SIM card, on which the Alpha Bank Enter Visa debit card is stored. The Tap ‘n Pay application enables contactless transactions in shops where contactless card acceptance terminals are in use, by debiting the bank account that is linked to the debit card.

In order to complete the transaction, users must hold their mobile phone within five centimeters of the contactless terminal, and the transaction will be completed securely in a split second, without requiring either a signature on a transaction receipt or the entry of a PIN number.

For purchases over Euro 25, a Passcode on the user’s mobile phone will be required for authorization. In addition, the application allows users to use the Passcode protection for purchases of less than Euro 25, if they so choose.

Tap ‘n Pay is being introduced in Greece as a pilot programme, offering to selected users the opportunity to familiarize themselves with the application and all its benefits.

During the pilot phase, the Tap n Pay will be available on Samsung Galaxy Mini 2 and Samsung Galaxy S3.