Visa and Nokia to deliver new mobile payment applications

Visa, a US-based retail electronic payments network, and Nokia plans to deliver Visa payment and payment-related services, including contactless payments, remote payments, money transfer, alerts and notifications, for Nokia's next generation handsets beginning with the Nokia 6212 Classic, expected to be available starting October 2008.

The Visa applications will first be made available for trial use by interested financial institutions and will allow consumers with the Nokia 6212 classic and a relationship with a participating Visa issuing bank to use their Visa account to pay for goods and services; initiate mobile money transfers to other individuals with Visa accounts; receive near real-time notifications of activity on their Visa account; and 'opt in' to receive offers and discounts from merchants.

According to Nokia, its Nokia 6212 classic includes integrated Near-Field Communications chipsets (NFC) which lets the mobile device behave like a contactless payment card, where consumers simply wave it within a few inches of a special point of sale reader to complete a Visa transaction. Nokia and Visa first demonstrated NFC technology in December 2005 with the launch of the first NFC trial in the US at the Phillips Arena in Atlanta.

Tim Attinger, head of global product innovation at Visa, said: Visa is already better money, more convenient, reliable and secure than cash. Putting Visa payments and exciting new services into the NFC-equipped Nokia 6212 classic adds another layer of convenience and security for Visa account holders and Nokia customers around the world.

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