Sunday, August 30, 2009

NFC Forum and Mobey Forum Collaborate on Mobile Payment Standards

The NFC Forum, an industry group promoting the use of Near Field Communication (NFC) technology, and the Mobey Forum, a global financial industry forum whose mission is to facilitate the offering by banks of mobile financial services, have agreed to collaborate to promote open standards that enable the delivery of services that provide secure and interoperable mobile financial transactions.

Near Field Communication (NFC) is a standards-based, short-range wireless connectivity technology that enables simple and safe two-way interactions between electronic devices. It operates in the 13.56 MHz frequency range, over a typical distance of a few centimeters.

The Mobey Forum has over 50 members with member categories covering leading banks, vendors, payment processors and mobile network operators. The Board Members of the Mobey Forum are from Deutsche Bank, UBS, HSBC, BBVA, eLaCaixa, Nordea, Rabobank, DnB NOR, and Nokia.