GSM Assoc Pay-Buy Mobile Details

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10 mobile operators are behind a GSM Association initiative to enable the worldwide use of mobile phones for payments at retail outlets. KPN, Maxis Communications Bhd, mobilkom austria, O2, Orange, SFR, SingTel, SKT, Vodafone and Wind have joined the 14 mobile operators that initiated the project in February. The handset vendors in the programme include Samsung Electronics and LG Electronics, which both plan to participate in the first trials scheduled to begin in October.

The GSMA’s 'Pay-Buy Mobile' initiative seeks to define a common global approach to using Near Field Communications (NFC) technology to link mobile devices with payment and contactless systems. Together with a SIM/Universal Integrated Circuit Card (UICC) card in a mobile handset, NFC can be used to enable a wide range of secure, interoperable and transparent services, such as credit and debit payments.

The Pay-Buy Mobile initiative will build on the work of the major credit card companies, which have developed specifications to ensure global interoperability between chip cards and point of sale terminals, regardless of manufacturer, the financial institution and location of transaction. The GSMA intends to work closely with leading financial intermediaries to provide the transaction solutions.

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