Intel Corporation and Visa Inc. have announced an agreement to work together to create mobile commerce solutions for consumers in developing and developed countries.
In a press conference held in Barcelona, Spain, at the Mobile World Congress, the two companies revealed plans for collaboration to come up with system that ensures a secure and reliable mobile commerce experience for consumers using Intel Atom–based tablets and smartphones.
This agreement is intended to make it easier for financial institutions all over the world to offer financial services and mobile payment options to their clients, using innovative Intel-designed technologies and devices.
The agreement’s first phase includes Visa’s certification of Intel’s Smartphone Reference Device powered by the Intel Atom processor Z2460 to be used with Visa’s mobile payment system, Visa payWave, to let consumers pay for their purchases by bringing their phones near a payment terminal.
The Intel smartphone will be carrying Visa’s payWave payment application and the necessary components for using near-field communication (NFC) technology.
Intel smartphones based on the Intel Smartphone Reference Device handset will be able to connect to Visa’s mobile provisioning service, thus allowing mobile operators and financial institutions a way to securely download the Visa payWave application and Visa payment account information into a secure chip in an NFC smartphone.
“This is another example of how Visa is making mobile payments broadly available across devices and operating systems and is ensuring that mobile commerce applications are aligned with existing technology and security standards established by the global payments industry,” commented Visa president John Partridge.
On Intel’s part, Intel vice president Mike Bell said, “Intel's strategy is to enable more secure and compelling user experiences across a range of Intel-based mobile devices. Our alliance with Visa builds on this strategy and brings worldwide mobile payment and commerce solutions to Intel-based devices.”
The Visa mobile service on the new Intel mobile device will be showcased at Intel’s booth in Hall 8 and Visa’s booth in Hall 1, from February 27 to March 1, at the Mobile World Congress in Barcelona
Yash Talreja, Independent Consultant