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Bank Launches Samsung Mobile Wallet

Rabobank, based in the Netherlands, has rolled out a mobile wallet on the embedded Secure Element of select Samsung smartphones. As of now, Dutch consumers can use their smartphones to pay for shopping, check balances, store loyalty cards and redeem digital vouchers via NFC. This would work across shops that are equipped with contactless terminals. By using the Samsung SE, Rabobank is able to bypass SIM cards, issued by telecom companies, altogether. Contactless payments are available at around 66,000 retailer terminals in the Netherlands. Rabobank claims to have 150,000 customers who have downloaded its banking app on the Samsung devices.

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