ICA Bank, a ICA Gruppen business unit, is set to launch contactless card payments technology in cooperation with MasterCard to enable users to make contactless payments in all ICA stores across Sweden.
The launch of the NFC based technology, which will commence during 2015, will provide ICA Bank’s over 500,000 cardholders with a new bank card adapted for the technology using which they can pay across ICA stores by touching their card against the card reader.
Marie Halling, CEO of ICA Bank, said: "Contactless card payments simplify customer payments and will reduce cash handling in the store.
"Future payments will head in this direction and we are pleased that together with MasterCard we are first in the Swedish market. ICA stores already have readers ready for NFC and this agreement means we will be the first to use this technology."
Bart Willaert, general manager of MasterCard in the Nordic-Baltic region, said: "We are very pleased to be taking this step together with ICA Bank and look forward to introducing this innovative payment technology in the Swedish market."