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Telecommunications equipment industry

Nokia Introduces World's First Near Field Communications (NFC) Product for Secure Mobile Payments and Ticketing

Strategic Insights

— 1 min read

Nokia has launched a groundbreaking product that enables secure mobile contactless payments and ticketing using Near Field Communications (NFC) technology. The Nokia NFC shell, an enhanced version of the Nokia 3220 phone, allows consumers to conduct local transactions with a mobile phone by simply touching a point of sales device or ticket gate. This innovative product delivers the promise of NFC-based services, covering service discovery, payment, and ticketing, making it an attractive solution for consumers, mobile operators, and service providers.

Key Takeaways:

  • The Nokia NFC shell provides secure storage of payment credentials, such as debit and credit cards, and transport tickets in the integrated smart card chip.
  • The product is compliant and interoperable with contactless smart card infrastructure, eliminating the need for additional investments.
  • Visa and MasterCard have partnered with Nokia to support the development and deployment of the NFC shell, which will support MasterCard's PayPass contactless payment technology.
  • The Nokia NFC shell will be demonstrated at the Cannes 3GSM World Congress 2005 and will be available in mid-2005 for distribution through operators.
  • The product will enable secure payment and ticketing functionalities, adding value to consumers' everyday lives, and will allow mobile operators to provide payment and ticketing applications to phones together with service providers.

Statistics:

  • The Nokia NFC shell supports MasterCard's PayPass contactless payment technology.
  • The product will be available in mid-2005 for distribution through operators.
  • Nokia is a world leader in mobile communications, driving the growth and sustainability of the broader mobility industry.
  • Visa has unsurpassed acceptance in more than 150 countries, generating more than US$3 trillion in annual card sales volume.
  • MasterCard International manages a family of well-known, widely accepted payment card brands, serving financial institutions, consumers, and businesses in over 210 countries and territories.

Sources:

  • Nokia. (2005). Nokia Introduces World's First Near Field Communications (NFC) Product for Secure Mobile Payments and Ticketing.
  • Visa. (n.d.). About Visa. Retrieved from http://www.corporate.visa.com/
  • MasterCard International. (n.d.). About MasterCard International. Retrieved from http://www.mastercardinternational.com/
  • About RMV. (n.d.). Retrieved from https://www.rmv.de/
  • About Near Field Communication (NFC). (n.d.). Retrieved from http://www.nfc-forum.org/

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