April 27, 2007

Nokia Joins Mobile Wallet Initiative

by Brian Turner

Nokia is the latest handset maker to join the “mobile wallet” initiative, which was initiated by the GSM Association, the global trade association for mobile phone operators.

The mobile wallet or Pay-Buy Mobile programme, aims to establish a global standard based on an embedded, wireless chip in a cell phone that allows a user to pay for something by either waving the phone over a wireless reader, or punching a PIN number into the phone.

Nokia, together with Samsung and LG will embed the wireless chip into their handsets.

Telecom companies KPN, Maxis Communications, Mobilkom Austria, O2, Orange, SFR, SingTel, SKT and Wind have joined the initiative together with Nokia. They join the 14 mobile operators, including AT&T and NTT DoCoMO, who started the project in February.

Payment card company, MasterCard, is already involved in the programme which GSM expects to build on the work already done by credit card companies to create a global payment standard.

Trials with the new standard are set to start in Korea and unspecified Asian and European countries later in 2007.

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Story link: Nokia Joins Mobile Wallet Initiative

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