Visa
has launched a mobile phone payments platform, laying
the foundation for the commercial availability of mobile
payments and services to mobile phone users around the
world.
Visa
has developed the mobile payment enablement platform in
collaboration with a number of diversified mobile technology
companies, including Nokia, Cassis International, Ecrio
NXP Semiconductors (formerly Philips), Giesecke &
Devrient GmbH (G&D), Venyon, IBM VeriSign INSIDE Contactless,
ViVOtech, and mFormation Technologies.
Visa
says the move is designed to encourage collaboration between
the financial services and mobile telecommunications sectors
for the delivery of mobile payment applications and payment
related services.
The
platform comprises a suite of technology tools and applications,
security standards, and business models that enable Visa
issuers and mobile operators to undertake market trials
to develop a commercialise mobile payment services
"The
launch of the mobile platform is a significant industry
milestone because it will enable innovative trials and
go-to-market strategies for mobile payment services globally,"
says Patrick Gauthier, senior vice president of innovation
at Visa International.
Unlike
other solutions available in the mobile application market
today, the platform is designed to make it easier for
Visa issuers, mobile operators and technology providers
to offer services such as mobile contact-less payments
and mobile coupons. At a later date Visa will make available
remote payments, person-to-person payments as well as
account management services that enable consumers to better
monitor account activity and manage their funds.
Visa,
has earlier been involved in mobile payment trials in
the US and Malaysia.
According
to the company, the new platform is flexible and complementary
to existing technologies, ensuring seamless integration
with global wireless technology and payments infrastructures.
"In
its current nascent stage, the mobile payment ecosystem
is complex and presents a challenge for those considering
entering this new space," said Mary Ann O'Loughlin,
senior vice president, consumer practice, Ovum, North
America, an analyst and consulting company.
"By
developing the mobile platform and engaging key industry
stakeholders, Visa is leading the charge to simplify and
jump-start the development of innovative mobile payment
services," O'Loughlin adds.
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