"Mobile payments platforms from banks can provide retailers with an intuitive customer experience via inexpensive technology. Most importantly it removes costly merchant fees as the technology takes transactions directly from the bank to retailers, changing the value chain. Without requiring tokenised card details to be held on a centralised database, the technology is inherently more secure." "based on Netclearance’smBeaconPay, to accept payments at retailers via MobilePay. The payment system has also been rolled out to Norway and Finland and over 90 million transactions were made through MobilePay in 2015."