French Telco Released Pre-paid Contactless Card
French wireless operator Paycard SFR is going to issue a pre-paid cash card to customers, as a first step to the introduction of contactless mobile payments and NFC.
The pre-paid cash card is priced at €14.90 and valid for one year. It does not require opening a bank account and can be recharged by cash, credit card or by bank transfer free.
Developed in conjunction with MasterCard, the contactless card can be used at PayPass terminals in-store for “tap and go” payments alongside conventional point-of-sale terminals, and for card-to-card transfers between friends and family. The card comes with a mobile app that provides real-time transaction data on balances and withdrawals.
MasterCard and SFR signed an agreement in July to develop a contactless NFC SIM card for fully-fledged mobile payments. SFR says it will start issuing its first NFC-ready SIM cards in 2013.