Nokia Demonstrates Electronic Mobile Payment Services With Visa And MeritaNordbanken

Payment Transactions Secured by Wireless Application Protocol and Chipcard Technology

    Nokia demonstrates the first phase results of payment solutions for mobile electronic commerce developed with Visa, the world's largest consumer payments organization, and MeritaNordbanken, the largest Internet and Mobile banking and commerce provider in Europe.

    At CeBIT 2000, Nokia, Visa and MeritaNordbanken will showcase how the Wireless Application Protocol (WAP) and personal area network (PAN) connectivity technologies, such as Infrared and Bluetooth, enable customers to purchase either via on-line transaction over the Internet or at the merchant point-of-sale by simply using their WAP enabled mobile phones.

    The remote, on-line payment system seamlessly integrates the mobile Internet connectivity capabilities provided by a WAP enabled phone with a reliable credit card payment over the Internet, using an EMV (Europay, Mastercard and Visa) compliant bank card, WAP Identity Module (WIM) and, SET Secure Electronic Transaction(TM) technologies.

    The local payment system effortlessly combines local connectivity with chip card payment technology, providing a reliable, secure method of purchase by authenticating both the user and the merchant.

    "Mobile handsets are transforming into multipurpose tools, enabling users to make calls, connect to the Internet and make purchases, with the added benefit of knowing their payments are authenticated and secure. The co-operation with MeritaNordbanken and Visa on dual-chip technology demonstrates that the involvement of leading payment associations will drive forward customer acceptance of electronic mobile payment services", comments Pertti Lounamaa, Vice President at Nokia Internet Communications.

    Security is one of the most important benefits of mobile electronic commerce. Nokia's WAP compliant security solution, featuring strong user authentication and digital signature enables service providers and financial institutions to offer secure, mobile transactions to their customers.

    "We are excited to participate in showing how payment cards, WAP technology, and the Internet can be integrated into one solution", said Jon Prideaux, Executive Vice President, Visa EU. "Everyone is talking about mobile commerce; this is as close as it gets to seeing into the future."

    According to Bo Harald, Executive Vice President, MeritaNordbanken: "Providing mobile payment services to our customers is one of our top priorities. With electronic mobile payment services, a leading-edge initiative, MeritaNordbanken can deliver trustworthy, cost-effective services, which will be widely adopted."

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