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May 27, 2015updated 04 Apr 2017 4:02pm

Media Markt and Saturn to roll out contactless payment services

German retailers Media Markt and Saturn are planning to launch contactless and mobile payments for customers using NFC technology in autumn 2015.

By Verdict Staff

German retailers Media Markt and Saturn are planning to launch contactless and mobile payments for customers using NFC technology in autumn 2015.

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The new payment system allows Media Markt and Saturn’s customers to use MasterCard and Visa credit cards for payments at all their German stores.

Starting autumn 2015, all the 3,500 terminals in the 417 German outlets will be fitted with NFC so that they can accept contactless and mobile payments.

The new service will be available for customers who have a MasterCard or Visa card with contactless functionality or an NFC-enabled smartphone with corresponding apps from the two credit card providers. The payment system does not store customers’ data thereby accelerating and simplifying the payment process for both customer and cashier.

To avail the service, customers will have to place their credit card or smartphone near the terminal, then the data will be ‘beamed’ to the till and the holder’s credit card account will be charged.

Visa Central Europe lead acceptance Ulrich Keppler said: "We are delighted that Media Markt and Saturn, the two leading consumer electronics retailers in Germany, now accept Visa cards and will shortly also support contactless and mobile payments with Visa. This move will broaden the nationwide acceptance of Visa cards on the German market.

"By accepting Visa in online and fixed-location retail and introducing new payment methods, Media Markt and Saturn are responding to payment requirements in the new multichannel world to the benefit of their customers."

MasterCard Germany and Switzerland division president Pawel Rychlinski said: "Customers throughout Europe can now use MasterCard contactless or NFC-enabled mobile payments in 36 countries – and they obviously like this secure, simple payment option. MasterCard’s goal is for all terminals to accept contactless payments by the end of 2018."

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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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