- July 2nd, 2012
- Robert Zak
As NFC is starting to gain momentum as a legitimate technology with which we can make payments and other financial transactions using our phones, MasterCard and Deutsche Telekom announced a huge forward-step for the technology today.
The two companies spoke of the importance of NFC technology at a press conference in Berlin, and their aim to roll it out to Deutsche Telekom’s 93 million European customers as quickly as possible.
Working around the issue that very few phones currently released have NFC built into them, the mobile wallet service that Deutsche Telekom are working on will use a SIM-based NFC solution. Essentially, NFC will be built into SIM cards, so whether the phone itself has the technology will be a non-issue.
Deutsche Telekom will not only be issuing the Mastercards products through its mobile network, T-Mobile, but also through other subsidiaries, such as ClickandBuy, which owns an e-money license.
One of the benefits of having NFC built into the SIM card is that each transaction is only complete when confirmed via a text message, adding a layer of security to the service.
[Source: The Unwired]