LLB launches own contactless payment solution
Liechtensteinische Landesbank (LLB) is now offering its own digital payment option. Its launch has been pulled forward due to the current coronavirus situation.
According to a press release from LLB on Thursday, it is making its contactless payment option by smartphone, LiPay, available immediately. It is being introduced earlier than planned due to the current coronavirus situation. LiPay functions will initially be available for iOS devices. The Android solution will follow soon.
LiPay is able to used independently of payment terminals or additional infrastructure. The system is based on QR codes and can be used irrespective of location. According to the statement, it can be used “quickly and safely” for free private money transfers and payments in shops. This means that there is no need to touch cash or to enter a PIN on a terminal. The only item used for this is the consumer’s own smartphone.
CEO Roland Matt is quoted in the press release, saying: “Due to the coronavirus epidemic, we wanted to launch LiPay as quickly as possible in order to contribute to protecting the population.” The launch had originally been planned for summer.
LiPay is integrated into LLB’s existing mobile banking. It allows contactless payments to be made up 1,000 Swiss francs.