Partnership Extension Capitalizes on Latest Advances in Mobile and
Payment Technologies
NEW YORK--(BUSINESS WIRE)--Sept. 25, 2008--Visa Inc. (NYSE:V), the
world's largest retail electronic payments network, and Nokia
(NYSE:NOK), the world's largest mobile device manufacturer, announced
plans today to deliver Visa payment and payment-related services -
including contactless payments, remote payments, money transfer,
alerts and notifications - for Nokia's next generation handsets
beginning with the Nokia 6212 Classic, expected to be available
starting October 2008.
The Visa applications will first be made available for trial use
by interested financial institutions and will allow consumers with the
Nokia 6212 classic and a relationship with a participating Visa
issuing bank to use their Visa account to pay for goods and services;
initiate mobile money transfers to other individuals with Visa
accounts; receive near real-time notifications of activity on their
Visa account; and "opt in" to receive offers and discounts from
merchants.
"Mobile payments and services are one of the most vibrant areas of
innovation at Visa, as we seek to accelerate the migration from paper
forms of payment to digital money," said Tim Attinger, Head of Global
Product Innovation at Visa Inc. "Visa is already better money - more
convenient, reliable and secure than cash. Putting Visa payments and
exciting new services into the NFC-equipped Nokia 6212 classic adds
another layer of convenience and security for Visa account holders and
Nokia customers around the world."
The Nokia 6212 classic includes integrated Near-Field
Communications chipsets (NFC) which lets the mobile device behave like
a contactless payment card, where consumers simply wave it within a
few inches of a special point of sale reader to complete a Visa
transaction. Nokia and Visa first demonstrated NFC technology in
December 2005 with the launch of the first large scale NFC trial in
the United States at the Phillips Arena in Atlanta.
The plans announced today represent the next phase in an ongoing
effort between Visa and Nokia to make mobile payments a reality for
consumers around the globe. The long-term collaboration between Nokia
and Visa has already resulted in multiple trials of Visa mobile
payments enabled through NFC technology on four continents, including
in the United States with Wells Fargo Bank; in Malaysia with Maybank
and Maxis; in Taiwan with Chinatrust Commercial Bank and Chunghwa
Telecom; and London with Barclays Bank.
"NFC-capable devices such as the Nokia 6212 Classic are set to
change the way mobile phone users interact with devices and services
in their surroundings," says Jeremy Belostock, the Head of Near Field
Communications, Nokia. "With our partnership with Visa, we're bringing
the value of electronic payments and services directly into the mobile
phone, making our customers' everyday lives more convenient."
About Nokia
Nokia is the world leader in mobility, driving the transformation
and growth of the converging Internet and communications industries.
We make a wide range of mobile devices with services and software that
enable people to experience music, navigation, video, television,
imaging, games, business mobility and more. Developing and growing our
offering of consumer Internet services, as well as our enterprise
solutions and software, is a key area of focus. We also provide
equipment, solutions and services for communications networks through
Nokia Siemens Networks. www.nokia.com
About Visa Inc.
Visa Inc. operates the world's largest retail electronic payments
network providing processing services and payment product platforms.
This includes consumer credit, debit, prepaid and commercial payments,
which are offered under the Visa, Visa Electron, Interlink and PLUS
brands. Visa enjoys unsurpassed acceptance around the world, and
Visa/PLUS is one of the world's largest global ATM networks, offering
cash access in local currency in more than 170 countries. For more
information, visit www.corporate.visa.com
CONTACT: Visa Inc.
Elvira Swanson, 415-932-2564
globalmedia@visa.com
or
Nokia
Communications
358-7180-34900
press.services@nokia.com
SOURCE: Visa Inc.