Monobank launches Google Pay
As one of the first banks in Norway, Monobank now takes mobile payment to a new level with Google Pay.
From today, anyone who has Monobank's credit card and a mobile phone with Android operating system will have the ability to register the card in Google Pay and use their phone to pay online and in any bank terminals that support contactless payment.
A key element of Monobank's strategy is to leverage its established position in digital consumer banking to develop innovative fintech solutions for loans, deposits and credit cards that improve customers' banking and shopping experience. Monobank's ambition is to rapidly roll-out and scale new and relevant solutions through its customers and partners.
"Monobank is a consumer bank with digitally forward-leaning customers. They expect us to be first-movers with the best solutions. Therefore, we are proud to be among the first to offer payment with Google Pay. Google Pay makes it faster, easier and more secure to pay online and in stores," says Bent Gjendem, CEO of Monobank.
Google Pay is a more secure way to pay. When a payment is effectuated, it uses a virtual card number for identification, and not the information on the physical card.
"Security is extremely important for our customers and thus also for us. Our digital credit card is a good example of this. It has one-time security codes, which means that card information cannot be misused if it gets into the wrong hands. Both our physical and digital credit cards are compatible with Google Pay,” says Gjendem.
For further information contact:
Bent H. Gjendem, Chief Executive Officer at Monobank, phone: +47 996 11 996
About Monobank
Monobank ASA a is digital bank focused on consumer finance in the Nordics. Monobank is a cloud based bank with strong focus on customer experience and fintech solutions. Monobank is based in Bergen, Norway and started operation in November 2015. The bank has experienced strong growth and went profitable after only three quarters. The bank offers unsecured lending to qualified private individuals in Norway and Finland. The screening process is based on an automated evaluation system. Loans are granted up to NOK 500 000. The bank also offers attractive deposit rates on its savings accounts. Deposits up to NOK 2 million are guaranteed by the Norwegian Banks' Guarantee fund, of which Monobank is a member. Monobank is an independent bank with approximately 1 000 shareholders and was listed on the Oslo Stock Exchange's Merkur Market on 16th February 2017 under the ticker symbol MONO-ME. Monobank has been awarded with "Great Place to Work" twice since the start.
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