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24 October 2014



OP-Pohjola’s Pivo mobile payment service proves popular with users

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CARTES 2014 Preview PIVO mobile app
An award-winning mobile wallet that is proving popular with users will be on show at CARTES SECURE CONNEXIONS 2014.

Customers in Finland are already using the service - called Pivo and designed by finance group OP-Pohjola - to track their card transaction details, forecast future balances, pay for goods on and offline, receive real-time transaction notifications, redeem vouchers, sync with loyalty programmes as well as find businesses nearby and their details including opening times.

Pivo is the most frequently-used mobile financial service in Finland, says OP-Pohjola, adding that a third of the 300,000 smartphone users who have downloaded it so far use it every day.

Ensuring the consumer values the experience of using a mobile payment service by giving them control - that takes account of the context in which it is used and which offers related value-added services - are key to its success, says the company.

Pivo was designed in Finland’s famous Oulu tech cluster following extensive consumer research and is available for licensing by banks across Europe. Having a mobile payment product to offer customers is an increasingly important part of the retail banking value proposition going forward, the firm insists.

‘Without being able to serve customers during payments, banks are at the risk of totally losing control over the consumer relationship,’ a spokesperson says. ‘On the other hand, delivering great experience on mobile and mobile payments can greatly enhance the overall satisfaction to the bank’s services as experienced by the consumer.’ Real-time push notifications about payment transactions are particularly important, the OP-Pohjola spokesperson adds. ‘We think taking this approach is a must for any bank that wants to stay relevant.’
Stand: 4N 010
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