SIM Card Becomes Credit Card?
Cassis Services Sdn Bhd, a Malaysian software company has collaborated with SK Telecom of South Korea to bring to consumers a way to use their third-generation (3G) cellular phones as stand-ins for credit cards. It claims to be the world first company to bring the Europay/ MasterCard/ Visa (EMV) wireless payment solution to mobile phones.
The solution was based on the EMV standard and the Universal Subscriber Identification Module (USIM) smartcard standards.The latter provided for storing encrypted cardholder information on the Subscriber Identification Module (SIM) chip in the phone, and for a personal identification number. A cardholder’s card information would be sent to a download server, enabling a short message service (SMS) or web download into the cardholder’s EMV-compliant SIM chip.
The solution was based on the EMV standard and the Universal Subscriber Identification Module (USIM) smartcard standards.The latter provided for storing encrypted cardholder information on the Subscriber Identification Module (SIM) chip in the phone, and for a personal identification number. A cardholder’s card information would be sent to a download server, enabling a short message service (SMS) or web download into the cardholder’s EMV-compliant SIM chip.
posted by DC at 7:32 PM
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