Mastercard card holders of Deutsche Bank are provided NFC-payment functionality on their Android devices

5 April 2017

Deutsche BankCredit and debit card holders of Deutsche Bank will now be able to make contactless and cardless payments just using their mobile phones based on Android operating system. In order to use the new service customers need to link their Mastercard credit or debit card to their NFC-powered Android devices and complete the transaction by unlocking their smartphones and waving over the POS terminal.

The transaction limit without authentication will be €25, while larger amounts will have to be authorized by entering the PIN code. When enabling Mastercard for mobile transactions customers will see a copy of their card showed in their mobile application. Apart from this the new NFC application will store up to ten tokens to validate one payment at a time.

As noted by the spokesperson for Deutsche Bank, smartphone payments are increasingly spreading across Asia, North American countries and European states. He adds that the bank is confident the service will gain the momentum in Germany too.

The introduction of the cashless, cardless and contactless transaction takes place at a time when minister for economy of Germany accentuated the importance of bank notes and coins in the country as the information from the central bank of Germany underlines that on average every German customer has about €103 in their wallets.

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