NFC-based Mobile Payment Services Launched

The GSMA's new Pay-Buy-Mobile initiative will witness its first trial phase, as 12 mobile operators across the globe test contactless mobile payment services prior to the commercial launch. The initiative is intended to provide a single global approach to contactless payments, including debit and credit, using an embedded NFC chip in the mobile handset. Consumers should be able to pay quickly, securely and easily for products and services in different types of retail locations. There are a total of 35 operators with 1.3 billion customers participating in the initiative. "Mobile paymentervices…will also make it easier for merchants to offer their customers precisely-targeted discounts and other promotional offers," said GSMA.