Visa, Nokia turn cellphones into wallets
From Reuters
Visa, the world’s biggest credit card payment system, has launched a global system to turn mobile phones into wallets for millions of customers in a deal with the world’s top handset producer, Nokia.
Users can pay for groceries and other purchases by swiping a phone over a reader that electronically communicates with a microchip on the phone. Phone owners confirm the purchase with the push of a button and the deal is complete.
The initial version of the mobile payment platform launched Monday also offers personalization over mobile networks, coupons and direct marketing.