Mobile Payments Approved By Visa For RIM

Mobile Payments Approved By Visa For RIM

Visa has approved the security management system of Research In motion recently, which means mobile payments through near field communication or NFC can be used by the mobile devices of the company.

The NFC services senior product manager of RIM, Geoffrey MacGillivray, indicated that the company manages its cloud-based security management system that was given the name Secure Element Manager. SEM was designed to be used by network service providers to offer mobile payment services to clients through financial institutions that collaborate with Visa.

MacGillivray said SEM complies with the strict guidelines set by Visa or mobile payments. This includes the security of mobile payment information, the downloading of applets that contain the information of the customer, the management of PINS, and other information needed for authentication that facilitate mobile payments.

The SEM technology of RIM was developed following the recent use of mobile payments in Canada that use SEM of EnStream, which is a joint venture between Telus, Bell, and Rogers. A number of BlackBerry 7 smartphones are already capable of mobile payments using SIM card and NFC chips.

The announcement of RIM is expected to increase the interest among US consumers on mobile payments. This comes as a number of users are concerned with the security of their financial information while others are more inclined to use their credit cards in making purchases.

Mobile payments are already utilized for low-cost items in South Korea and Japan using devices with NFC capabilities.

Posted by Sophia Andrews on Thursday January 17 2013, 12:24 PM EDT. Ref: PC World. Link. All trademarks acknowledged. Filed under Featured News, Shopping. Comments and Trackbacks closed. Follow responses: RSS 2.0