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Visa And Intel Announce Mobile Commerce Agreement

Credit card giant Visa and computer chip maker Intel have announced a strategic agreement to develop mobile commerce solutions.

In the initial phase of the deal, Visa has certified Intel's Smartphone Reference Device for use with the Visa payWave service. Under the agreement, the Intel device will host the payWave payment application.

The partnership will feature NFC, or Near Field Communication, technology. This short-range communications standard enables mobile phones to transmit payment information securely to a payment terminal.

When used in combination with a Visa-compliant UICC, smartphones based on the Intel Smartphone Reference Device handset can be able to connect to Visa's mobile provisioning service. According to the company, this provides financial institutions and mobile operators a way to download Visa payment account information securely.

by RTTNews Staff Writer

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