Telekom Slovenije launches mobile wallet

After Telekom Slovenije redefined the TV experience with the NEO platform at the end of 2018, the company continues this trend by redefining how mobile phones are used.

Telekom Slovenije is creating a comprehensive ecosystem that will make our lives easier with simpler shopping, ordering, payments, smart city and e-commerce services. The first step in this direction is the VALÚ smart wallet, which solidifies and advances Telekom Slovenije’s position in the financial services market. VALÚ smart wallet is not just about payments with a mobile phone, a growing trend in Slovenia, but a whole new generation of financial solutions that support fast and comfortable use of interwoven local services and efficient management of money.

​VALÚ smart wallet is available in Slovenia as a mobile app from 13 June, and combines in one place mobile payment services, transfer of funds between users, splitting the bill, as well as identification and use of local infrastructure services, such as purchasing Slovenian Railways train tickets or connecting with the app and paying the difference when using student restaurant vouchers. Users can add e-money to their VALÚ account in a quick and simple way by using VALÚ Moneta (the new name of the old Moneta service), with a credit or debit card or by a bank transfer from their bank account.

VALÚ will be Telekom Slovenije’s independent brand for the service of providing immediate payments or transfer of funds between two physical VALÚ account users (Person to Person - P2P), payment over a merchant’s POS or mobile terminal (Person to Merchant - P2M) and for online shopping payments (Person to eMerchant - P2eM). Users can also withdraw funds from their VALÚ accounts at Telekom Sales Centres or transfer them to their bank accounts, use VALÚ to split a bill, or connect their VALÚ smart wallet with other apps, such as loyalty cards from various retailers.

In order to use the VALÚ smart wallet, users must first download the VALÚ app from Google Play or Apple App Store. The next step is registration with a mobile number (applies to all Slovenian mobile numbers) and an email address, which creates a basic profile that can at any time be upgraded to an advanced one. After a successful registration, users can put e-money in their VALÚ account and use it to make payments for as long as they have any credit.

User identification is conducted over the VALÚ user account, which is tied to the user’s mobile number and email address, and users with an advanced profile with full features can also login using video identification, Moj Telekom self-service portal login information, a digital certificate already on their computer, or in person at Telekom’s Sales Centres.

VALÚ can be used for payments at more than 3,000 points of sale across Slovenia, where Moneta was already accepted. Payments can be completed using several methods: besides using the data-over-voice (DOV) technology, or a numeric code, VALÚ also supports payments with a QR code (on Android and iOS devices) or NFC technology (Android devices). This allows providers of goods and services to completely tailor VALÚ payments to their sales channels.

Telekom Slovenije plans to constantly increase the number of points of sale where VALÚ is accepted, and expand the range of products and services that can be paid for with VALÚ, and to shortly add new features, such as concluding insurance remotely or purchasing concert tickets.