(May 24, 1999) - Visa International, together with Nokia and MeritaNordbanken Group today announced the start of a pilot whereby wireless application technology and mobile phones will be used to make payment over the internet or at merchant point of sale. The pilot will be started later this year.
Using a Nokia 7110 dual-band GSM phone, the world's first fully compliant WAP phone, Wireless Application Protocol (WAP) technology, SETTM Secure Electronic Transaction, and the Visa Open Platform, users will be able to use their mobile phone to pay securely over the Internet and at merchant point of sale, as well as securely download applications to an EMV compliant bank card. For the pilot, the phones will be equipped with an additional 'plug in' small size card providing Visa payment services to MeritaNordbanken Group customers.
The pilot will involve mobile payment functions using the WAP and Bluetooth technology. End-to-end security will be provided by WAP and a SET enabled bankcard.
"This pilot will represent a significant step towards the usage of mobile phones for the complete wireless banking solutions. Nokia is the world's leading developer and provider of WAP terminals and solutions and we are happy to work with distinguished and well recognised partners who are among the first in adapting new technologies, and exploring and creating new mobile services for their customers", says Dr. Yrjö Neuvo, Senior Vice President, Product Creation, Nokia Mobile Phones.
"MeritaNordbanken Group has provided PC-based banking services since the early 80's and now has over 680 000 internet customers. As our home markets, Finland and Sweden have the highest mobile phone penetration in the world, over 60 and 50 % respectively, it is natural to further increase the service channels available", says Bo Harald, Executive Vice President, Payments and Networks Banking. "The first step announced together with Nokia in February this year was the development agreement of interactive Electronic banking utilising WAP technology and phones. The dualchip phone now to be piloted can serve customer on an even wider scale. There is an increasing need to make mobile card payments and combine card functions into multiapplication chips. Mobile phone is an ideal tool to handle these."
The second phase will pilot the download of applications onto a bankcard 'over the air' using Open Platform cards issued by MeritaNordbanken Group and wireless technology.
"WAP, SET, EMV, Open Platform, GSM, Bluetooth - this may sound like a bunch of technical jargon, but what we are really announcing is that soon consumers will be able to jump the queue at retailers to pay , or access the Internet anywhere to order and pay for goods and services." said Jon Prideaux, Executive Vice President New Products, Visa EU, " Personally, I can't wait to be able to use my mobile phone in my car on the way to work to order cinema tickets on-line for my wife without having to wait on the phone or in line."
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