Visa on board for money on the move...
By Pia Heikkila
Published: 25 September 2001 15:00 GMT
Nokia, Visa and pan-Scandinavian online bank Nordea have launched a dual SIM payment system for mobile transactions.
The agreement is called the Electronic Mobile Payment Services (EMPS) and all applications required reside inside Nokia's newly developed dual SIM handset. The phone's additional SIM card is issued by Nordea and transactions can be done by using the additional chip with Wireless Identity module (WIM) application from Visa.
The EMPS initiative will involve two Finnish merchants, online grocer Ruoka.net, and the movie theatre Kinopalatsi. The project is distributing 150 specially designed mobile phones to customers in the Helsinki metropolitan area.
The dual chip concept is compatible with the recently announced preferred payment architecture by the financial industry-driven forum, the Mobey Forum. But last month Barclays announced its shock decision to pull out of the controversial mobile payment consortium.
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