Nokia and Visa launch mobile credit card system

Nokia and Visa launch mobile credit card system

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Visa and Nokia, the biggest players in their respective fields, have teamed up to create the world’s first mobile credit card pilot system. Shoppers, starting with a test group in Malaysia, will be able to make Visa purchases with their mobile phones. The project, called the Mobile Visa Wave Pilot Project, is the next step for Visa beyond their Visa Wave smart card that uses radio frequencies instead of a traditional card swipe.

During a four month trial, 200 users will be given special Nokia phones, the 3230 prototype, that they can use to shop in 2,500 stores nationwide. The phones contain a chip which includes the latest in cryptography, security and smart card technology, so they are difficult to steal or counterfeit. If the trial is successful, they will roll the product out quickly worldwide, building on the acceptance for the Visa Wave program. There are already 4 million of those cards in use, and that number is increasing quickly.

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