E-commerce on the move

Visa International and Nokia are working to introduce payment solutions for mobile electronic commerce.

Under the agreement, Nokia and Visa will introduce a standardised means of making secure payments using a mobile phone, meeting different market requirements for security, risk management and dispute resolution.

Both organisations are actively working on establishing open specifications, based on the Wireless Application Protocol (WAP) standard.

A mobile e-wallet under development is designed to allow for 'simple-click' purchases. Nokia will also provide server applications based on WAP which will transmit payment data securely over wireless networks to financial institutions. A pilot of the technology will take place later this year with MeritaNordbanken in Sweden and Finland.