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. SET Secure Electronic TransactionTM 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.
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. The services are scheduled for a pilot launch during the second half of this year. About Nokia Nokia is paving the way to the mobile information society with its innovative products and solutions. The company is the leading mobile phone supplier and a leading supplier of mobile, fixed and IP networks related services as well as multimedia terminals. As the World's Best Way to Pay, Visa is the leading payment brand and the largest consumer payment system worldwide with more volume than all other major payment cards combined.