Estonia: SEB customers now able to use smartphones for payment

TALLINN – SEB customers who have smartphones with the Android operating system are now able to make purchases with their phones as mobile payments for purchases of up to 150 euros have been made available both in Estonia and in foreign countries.

"Starting from fall, SEB private and corporate customers with Mastercard bank cards can use the convenient option of mobile payment. In order to use the bank card on one's phone, it must be activated in the SEB mobile app. The update can be applied to all Mastercard cards, including those that do not have a contactless payment function," Ainar Leppanen, head of retail banking at SEB, said in a press release.

According to Leppanen, the prerequisite for activating the cards on the smartphone is that the phone must support near-field communication (NFC). In order to make a payment, the user must place the phone near the payment terminal and follow the instructions on the screen. "Mobile contactless payment can be used with all traders whose terminals enable contactless payment. The mobile contactless payment function cannot be used at ATMs," he added.

"As the share of payments via digital and mobile channels is increasing very rapidly, the demand for secure and convenient payment methods is also increasing. This is why we are pleased to introduce a mobile wallet in cooperation with SEB Estonia to provide our customers with secure transactions across all payment channels," Mats Taraldsson, head of digital business development and fintech engagement at Mastercard Nordics and Baltics, said.

With payments of up to 25 euros, the transaction does not have to be confirmed with the mobile PIN, the bank said. However, the mobile app will ask for the verification of the user's identity from time to time to ensure maximum security. If the transaction is between 25 to 150 euros, it must always be confirmed with a PIN or biometric authentication. Mobile contactless payment cannot be used for purchases exceeding 150 euros. Then, a regular plastic bank card must be used.