“The more than 200,000 apps on the App Store are an integral part of iPhone users’ lives.” said Amitaabh Malhotra, COO, DeviceFidelity. “With our In2Pay solution, we want to give both iPhone users and app developers the power to do even more, by putting the convenience of interactive secure mobile transactions, right at their fingertips, anywhere they are.”

[via engadget]

Demonstration video

Click here to view the embedded video.

Through this agreement, First Data will provide merchants and financial institutions with Tyfone’s patented SideTap secure memory card and u4ia mobility platform for OTA life cycle management. The SideTap card can retain memory card functions, so consumers can continue to utilize the card as they normally would, to store photos, videos, music, documents, or other files. An embedded SmartMX security chip from NXP Semiconductors is safeguarding all transactions operated on the MicroSD card.

“The move to contactless payments is gaining traction and First Data continues to play a pivotal role in the development of this evolving technology. Consumers have a strong preference for such technology and merchants are using contactless payments to reduce waiting times, increase customer loyalty, and boost sales,” said Dom Morea, First Data division manager of Mobile Commerce Solutions. “First Data chose Tyfone’s SideTap Memory Card because it best serves the needs of consumers who want to use contactless payment options with over the air access but still want to retain the memory card functionality of their MicroSD card. We are excited to partner with Tyfone and bring this technology to consumers in the second half of 2010.”

[via engadget]

The trial will make it possible for Kasikornbank customers to walk into a store that accepts contactless payments and to purchase goods simply by waving a NFC mobile phone over the contactless reader at the point of sale. Purchases will be charged directly to the customer’s Kasikornbank credit card account.

Participants in the Kasikornbank mobile payment trial will use their NFC-enabled Nokia 6212 mobile devices to make purchases at more than 1,000 existing merchant locations in Thailand. Near Field Communication (NFC) is a short-range wireless connectivity standard that enables intuitive, simple and safe communication between NFC compatible devices. Products with built-in NFC capability can simplify the way consumer devices interact with one another, helping people to receive and share information and make fast and secure payments.

Venyon’s role in the first stage of the Kasikornbank mobile payment trial is a services partner and in future stages a Trusted Service Manager (TSM). TSM provides neutral and trusted services to service providers, such as banks, retailers and transit operators, and to mobile network operators to enable third party NFC applications to be provisioned over the air (OTA) to the NFC-enabled phones and SIM cards.

How the MasterCard Over-the-Air Provisioning Service Works

In order for accountholders to use their mobile phones to make purchases, they need to have a mobile phone equipped with Near Field Communications (NFC) capabilities and a mobile data subscription. First the PayPass application is securely transferred onto a secure area of the consumer’s mobile phone via the mobile network. Next the PayPass application is personalized with the consumers’ individual payment account details. The service will be made available to consumers through their issuing banks’ websites.