Mobile credit cards are here!

Dashken · 28th Apr 2006, 02:15 PM

Quote:

KUALA LUMPUR: Two hundred Malaysians are the first in the world to start paying for goods and services with their handphones acting as extensions of their Visa credit cards.

PAY PHONE: This Nokia phone embedded with contactless technology can be used to pay at more than 2,500 stores with Visa Wave terminals.

They are participating in a four-month test of the Mobile Visa Wave Payment service. The test started yesterday and will go on till Aug 26.

“Malaysia was the first country in the world to use Visa Wave contactless card technology and it is now the first to test our Mobile Visa Wave Payment system,” said Visa International country manager Jeffrey Perera.

The Malaysians are Maybank Visa cardholders who are also Maxis Communications cellular service subscribers. They were provided with a special phone by Nokia for the test.

The phone is embedded with Near Field Communications and Visa Wave Contactless Card technologies, and can be used at the more than 2,500 stores with Visa Wave terminals in the country.

To make a payment, the user needs to hold the phone near the Visa Wave terminal (the effective range is up to 4cm) and once authenticated, the amount will be billed to the user’s Visa card account.

If a user loses his phone, he must immediately inform the bank. Also, purchases using the service are capped at RM110 per transaction, for now.

For added security, the information on the phone’s Visa smartchip cannot be accessed via the device’s interface menu or SIM card.

Visa said the test period is to gauge customer and merchant responses, and to gather feedback on what improvements need to be done before the service is opened to all its cardholders.

“The completion of the national migration to EMV chip, coupled with the widespread use of wireless technology in Malaysia, has created numerous payment opportunities far beyond that of the simple swipe of a card,” said Paul Jung, Visa Asia Pacific’s regional head for emerging products and technology.

“Mobile Visa Wave Payment shows the innovative use of the latest technologies to increase convenience and provide secure transactions for cardholders on the move.”

The EMV chip is used now on credit cards and adheres to an international specification, jointly developed by Europay, Mastercard and Visa, for secure point-of-sale smartcard transactions.

Source: http://thestar.com.my/news/story.asp...216&sec=nation

Papercut · 28th Apr 2006, 03:26 PM

Cool. Although it was only a matter of time after they decided to experiment using phones to buy stuff from vending machines

Kalo · 28th Apr 2006, 04:17 PM

In the states they've come up with the technology to tap your credit card and the payment is sent. No surprise that they've now implemented a wave type of payment, and with the short distance of 4cm, i'm not sure they have to worry too much about hackers listening in on their systems.

Cell phones are seemingly becoming more widely used for these types of tasks. Cameras, bluetooth, credit cards, what's next? I don't think it's entirely unimaginable to assume that we will use our cell phones for a great many more tasks in the future, including built in computers(not pda's) and with nanotechnology the possibilities are at very least exciting.

Adrian Wong · 28th Apr 2006, 11:13 PM

Yeah, I already have a Wave-enabled credit card. But there's really not much use for it here.

28th Apr 2006, 03:26 PM	#2 (permalink)
Papercut Hold me back! I can't stop posting!!! Join Date: 14 Jul 2004 Location: Singapore! Posts: 5,107 Reputation: 2557 Rep Power: 36	Cool. Although it was only a matter of time after they decided to experiment using phones to buy stuff from vending machines __________________ "Use in a cool dry place away from direct sunlight. Keep out of reach of n00bs. Overclock within 24 hours of opening. Do not read instructions before proceeding, do not use only as directed. May cause frustration, late nights and empty wallets. If symptoms persist please consult your hardware professional."

28th Apr 2006, 11:13 PM	#4 (permalink)
Adrian Wong Da Boss Join Date: 10 Oct 2002 Location: In front of my ASUS F8V notebook! Posts: 32,304 Reputation: 3574 Rep Power: 75	Yeah, I already have a Wave-enabled credit card. But there's really not much use for it here. __________________ Dr. Adrian Wong Tech ARP \| Blog @ Tech ARP \| The Free Trade Zone DYKT : The only offshore account I have is at the sand bank? We need PROGRAMMERS and TECHNICAL WRITERS! Contact us if you are a hot shot programmer or technical writer! My items for sale : 50x SD Card \| Memory Stick PRO \| Cyclone Energy Saver \| Seiko SS watch \| Tiger/Carlsberg beer jugs \| Travel Speakers \| Motorola V600 \| Nokia N90 SOLD! \| New Lowepro Mini Trekker AW Other items for sale @ the FTZ : Zalman CNPS9500 LED @ $20 \| Zalman CNPS7700 Cu @ $20 \| Zalman CNPS7000 Cu @ $20 \| Swarovski bracelet watches \| Dell 17" LCD \| Hi-Fi speakers \| English DIVX movies \| HP LaserJet toners! \| Office chairs

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28th Apr 2006, 04:17 PM	#3 (permalink)
Kalo Warming up Join Date: 24 Apr 2006 Posts: 118 Reputation: 15 Rep Power: 4	In the states they've come up with the technology to tap your credit card and the payment is sent. No surprise that they've now implemented a wave type of payment, and with the short distance of 4cm, i'm not sure they have to worry too much about hackers listening in on their systems. Cell phones are seemingly becoming more widely used for these types of tasks. Cameras, bluetooth, credit cards, what's next? I don't think it's entirely unimaginable to assume that we will use our cell phones for a great many more tasks in the future, including built in computers(not pda's) and with nanotechnology the possibilities are at very least exciting.