Visa Inc. and Intel Corp. announced a multi-year strategic agreement to develop mobile commerce solutions across any Intel Atom-based phone or tablet. Their shared goal is to bring mobile payments further into the mainstream in both developed and emerging economies.
Speaking at Mobile World Congress in Barcelona, the partners said the Intel Smartphone Reference Device will host the Visa payWave payment application and features NFC (Near Field Communication) technology.
When used with an appropriate UICC (Universal Integrated Circuit Card), found in GSM and UMTS mobile terminals, smartphones based on the Intel Smartphone Reference Device handset can provide financial institutions and mobile operators the means to securely download Visa payment account information and the related Visa payWave application to a secure chip on an NFC-equipped smartphone.
The companies also are showcasing Visa mobile services on the new Intel mobile device, including: V.me by Visa, Visa’s new digital wallet service based on the Visa payWave application; Movida, Visa’s new payment service in India; and Visa Mobile Prepaid, Visa’s new mobile-based product tailored to consumers in developing countries.
During the press conference, Mike Bell, Intel vice president and general manager of the company’s Mobile and Communications Group, said: “Intel’s strategy is to enable more secure and compelling user experiences across a range of Intel-based mobile devices. Our alliance with Visa builds on this strategy and brings worldwide mobile payment and commerce solutions to Intel-based devices. Our work with Visa also extends to our customers designing products based on Intel’s Smartphone Reference Device.”
Also speaking during the press conference, John Partridge, president, Visa Inc. said: “Visa’s agreement with Intel paves the way for financial institutions around the globe to offer their account holders mobile payments and financial services using innovative mobile devices and technologies designed by Intel. This is another example of how Visa is making mobile payments broadly available across devices and operating systems and is ensuring that mobile commerce applications are aligned with existing technology and security standards established by the global payments industry.”
Press release – http://tinyurl.com/6nu29xs