GSM Association gets everyone together for phone e-wallets

With services like NTT DoCoMo's FeliCa-based Osaifu-Keitai in Japan and Mifare deployed through much of Europe, perhaps one of the last great hurdles to widespread acceptance of phone-based e-wallets is a lack of standardization. Either that, or most people don't feel the need to pay for things by tapping their phone on various devices, but we digress; the point is that the GSM Association has now taken up the cause of getting everyone on the same page with its global "Pay-Buy Mobile" initiative. We really mean global, too -- among a slew of carriers, AT&T, NTT DoCoMo, Vodafone, and KTF are on board, representing the US, Japan, Europe, and South Korea, respectively, and the manufacturer camp counts Nokia, Samsung, and LG as its members. The first Pay-Buy Mobile trials are schedule to kick off this October, a schedule that is probably helped along by the availability of existing software and chips from Sony and NXP and the GSMA's pledge to build off financial institutions' existing NFC initiatives. We can't promise we'll use it -- but yeah, if it's secure, go ahead and build it into our phones, folks.

[Via Phone Scoop]

[Spenecer @ Apr 26th 2007 9:28AM]

I actually have the prototype version of the Nokia 6131 NFC phone on the trial with Cingular. I must say it is excellent. I always have my phone with me and I can use it when I run out of cash or when I go to the gym and don't take my wallet. Someone is going to say something about security, but you're not liable for fraudulent charges. This should be implemented on a much larger scale.

[Philip Chung @ Apr 26th 2007 10:40AM]

"Phone e-wallets" sounds like "Phoney wallets" :-)

[Chris Smith @ Apr 26th 2007 1:08PM]

KushCash lets you send money with any internet-abled cell phone. they use wap and app interface as well as a full web-based client. the system notifies senders/receivers with sms and email notifications. they have a really simple interface. so it's a nice system to send friends and family money on the go. I hear the have NFC in the pipeline.

use the web, or if you have an account already, use your mobile browser and point to:
http://kushcash.com

[Chainsaw @ Apr 26th 2007 2:45PM]

I think that whatever the GSM Association decides on, it will be the ongoing standard. It seems that they are suggesting two options for mobile payments and that they would complement each other.

The first is over-the-air downloads and the second is preloading encrypted credit card information from the bank on the phone's SIM card. Both Visa and MasterCard have welcomed the initiative.

http://www.intomobile.com/2007/02/14/gsm-association-promotes-pay-buy-mobile.html

[brassready @ Apr 26th 2007 5:49PM]

Sooo.... err.. Whats happens when someone steals my phone?