The Article Summarized
Users of the DB Mobile app now have the option to make payments with the smartphone.
Deutsche Bank is the first German bank to launch a mobile payment method. With the new app DB Mobile Banking for Android, Deutsche Bank offers customers who own smartphones with Android version KitKat or higher NFC function mobile payment at 80,000 contactless card terminals in Germany and over 200,000 acceptance points across the globe.
Requirements for DB’s mobile payment
As Apple does not share the NFC interface with third parties, so iPhone users have to be patient when it comes to mobile payment. Also, the payment is restricted to Deutsche Bank credit cards, i.e. Mastercard Standard, Mastercard Gold, Mastercard Travel, Mastercard Platinum, Debit Mastercard and Mastercard Black. Because of host card emulation, no new SIM card or credit card is necessary like with other mobile payment solutions (e.g. Vodafone). For the payment process, the smartphone just has to be unlocked and help up to a card terminal. At the terminal and via push notifications, the customer is informed if the payment is successful.
Added value thanks to integration in the DB mobile app
To date, all mobile payment solutions in Germany have failed or been discontinued, except mobile payment by Vodafone. This is mainly due to the fact that mobile payment is not a product - here, the smartphone is just another form of the credit card. Thus, most customers see no added value. Therefore, Deutsche Bank markets mobile payment not as a separate product but as a feature of the DB mobile app. Users of the DB app can use this function as a part of a bigger product - but they do not have to. However, this solution still lacks the integration of credit cards from different financial institutions. For Android users with a Deutsche Bank credit card, this payment solution is a sensible extension of the app and offers easy mobile payment for the German stationary trade.
