Norwegian banks DNB and SpareBank1 Group in partnership with operator Telenor have launched the Valyou app, which lets users download a mobile version of their Visa card and make contactless payments via their phone.

Over 400 stories already accept payment via Valyou and contactless payment cards and 10-20 new stores are being added every week.

“Some innovations immediately become the obvious choice for the future. This is the case for contactless payment through your mobile – it’s just a matter of time before we are all using our mobile phones to pay,” said Jon Fredrik Baksaas, president and CEO of Telenor Group.

Currently, there are some limitations: the app is only available via Google Play while users need to have a Visa card, be a customer of both DNB and Telenor and have a mobile phone with a new service-supporting SIM card from Telenor.

However, as of next year, Telenor customers using SpareBank1, Skandia Bank, yA Bank, Fana Sparebank and EnterCard will be able to use the service as well.

“We have invited both banks and other telecom operators to join us. Several more banks are offering the new payment method in 2015. SpareBank1 has also joined the ownership side of Valyou,” said Rune Bjerke, CEO of DNB.

When news of a mobile payment platform initially came out last year, the venture said future services would go beyond payments at the point-of-sale and include coupons, loyalty, building access and ticketing.

Valyou has been developed by DNB and Telenor and the venture is owned by DNB (42.5%), Telenor (42.5%) and SpareBank1 (15%).