The solution combines Visa's contactless payment technology, payWave, and DeviceFidelity's In2Pay technology to transform a mobile phone with a microSD memory slot into a mobile contactless payment device. This can enable consumers to make mobile Visa payWave transactions at any retail location that accepts contactless payments. Trials are scheduled to begin in the second quarter of 2010.
This collaboration aligns with Visa's mobile strategy to extend the reach of its global network to bring mobile payments and related services to consumers around the globe. The company says it has more than four billion mobile devices in market today.
The In2Pay solution integrates with multiple mobile phone operating systems. It uses an onboard software controlled antenna and an industry standard dual interface contactless smart card chip that supports Visa payWave, as well as other contactless applications such as transit, identification and access control.
In addition to DeviceFidelity, Visa is working with other technology providers and strategic alliance partners to test and deploy this innovative mobile contactless payment technology, including CPI Card Group, Inside Contactless, Monitise plc, and NXP Semiconductors.