Questions? Contact us at

Wallet Database

Bankaxept

21st of September 2016

Overview



  • Summary: BankAxept is a cards-based and account to account digital wallet for NFC-contactless purchases and P2P payments operating in Norway only.

  • Websitehttps://www.bankaxept.no/#ng

  • Status: Live

  • Market: Norway (n/a)

  • Type: Bank Consortia

  • Ownership: Bank Axept, which is owned by all the banks in Norway

  • Functions: Retail payments only

  • Payment Mode: Cards based and account to account

  • Channel: POS via NFC

  • Roadmap: n/a

User Experience



  • Registration & set up: User must have a BankAxess agreement with BankID bank. (Update to follow – Further information being obtained)



  • Making a payment:NFC initiated by physically tapping the phone on contactless terminal. For transactions up to 200 kr no need to authenticate, otherwise authenticate with BankID. Payment is due directly from consumer’s bank account.

Payment Flows & Technology



  • Merchant perspective: Payment is due directly from consumer’s bank account. (Update to follow – Further information being obtained)

  • Security: BankID is used to identify the parties and ensure that data exchange between the merchant and the consumer does not contain sensitive information.

Business Model



  • Strategy: (Update to follow – Further information being obtained)

  • Payee fee: (Update to follow – Further information being obtained)

  • Payer fee: (Update to follow – Further information being obtained)

     

Performance Data



  • Launch date: Norway (n/a)

  • Closed Date: N/A

  • Users: No data yet

  • Retailers / merchants: No data yet

  • Transaction volume: No data yet

  • Transaction value: No data yet

  • Other data points: No data yet 

Contact (MobeyForum Members only)



  • Name: N/A

  • Address: N/A

  • Email: N/A

  • Phone: N/A