Visa and Telstra Partner to Offer First-Generation Wireless Financial Services

Mobile Financial Services Seen as Key to Mobile Commerce Growth

In a move to encourage mobile electronic commerce, Visa International has teamed with Telstra Corporation Ltd., Australia's largest mobile phone operator, to provide a wireless automatic teller machine (ATM) locator service for use at the Sydney 2000 Olympic Games and beyond. This service will be based on the Wireless Application Protocol (WAP), an industry standard for wireless communications over the Internet.

Mobile phone users throughout Australia with WAP- enabled mobile phones connected to Telstra MobileNet(R) WebMode(TM) will be able to locate the closest ATM within the Visa Global ATM network. This will include the ATMs installed specifically for the 2000 Sydney Olympic Games. To utilize the service, users simply enter a post code or select city and street information. The user will then be provided with the location and details of the nearest ATMs.

"This service is particularly useful for travelers who need immediate, easy access to local currency and is just one example of what Visa, by working with our strategic wireless partners, can do to better serve the needs of our increasingly mobile cardholders," said executive vice president Philip Yen, head of e-Visa International. "Visa cardholders can expect to see a range of wireless services, such as convenient payment, in the near future."

According to technology research firm Durlacher, mobile financial services are a key commercial driver for the mobile commerce market. As part of Visa's agreement with Telstra, the "Shopping" category on the telstra.com mobile portal will be branded "Shop with Visa" during the Sydney 2000 Olympic and Paralympic Games. "Programs such as these help raise awareness of the ability to use a Visa card in new e-commerce channels and extend the convenience of Visa into the wireless Internet," added Yen.

"Our relationship with Visa clearly demonstrates our commitment to bringing new services to our mobile customer base," said Telstra's General Manager, Wireless Multimedia Programs, Greg van Mourik. "We view this relationship as a perfect extension of our efforts and an ideal compliment to Visa's overall mission to promote commerce and develop services for the wireless Web. We look forward to developing next-generation services with Visa to serve our customers' wants and needs."

In addition to the ATM locator service and shopping features, telstra.com, the leading wireless portal site in Australia, offers a wide range of information and services, from sports, weather and entertainment news to email and messaging. During the Sydney 2000 Olympic Games, race results, medal tallies and breaking news will be available via the telstra.com menu on WAP-enabled phones.

The wireless ATM locater service will be available to WebMode customers immediately. The service is in addition to the services already available on the telstra.com menu at no additional cost. Additional information regarding WebMode and the information and services available on the telstra.com menu can be found at: www.telstra.com/wap.


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