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MeT Initiative to join MasterCard's Global Mobile Commerce Forum[May 31st 2000] The MeT Initiative, whose initiators are Ericsson, Motorola and Nokia, have announced that they will cooperate with MasterCard International's Global Mobile Commerce Forum, a cross-industry initiative focusing on the development of secure mobile payments over a variety of technology platforms. The Forum, which now has more than 200 participants, was established last November to foster knowledge exchange between MasterCard's member financial institutions, network operators and leading mobile technology companies. The ability to handle secure electronic transactions from a personal mobile device is regarded as one of the most important aspects of the Internet. A mobile device can be a tool for a variety of services, such as banking and trading, credit card and payment, loyalty/bonus and ID-card services. The MeT Initiative is working towards a common framework for mobile e-business, encompassing the security and payment issues involved. Working together with industry leaders in such a Forum will help to bring about swift and efficient adoption of mobile e-business solutions. "With more than 500 million Internet enabled mobile terminals on the market by 2003 a fantastic opportunity opens up for mobile commerce," says Jan Ahrenbring, vice president Marketing and Communications at Ericsson Mobile Communications. "In order to unleash the potential of the mobile commerce marketplace, a common, consistent and globally accepted environment for secure mobile transactions has to exist. Supporting MasterCard International's Global Mobile Commerce Forum is one step in the process of reaching this common understanding," says Ahrenbring. "Joining this Global Mobile Commerce Forum underlines the MeT Initiative's commitment to the development of the mobile Internet and making it a secure environment for doing business. Trust is the essential factor for mobile interactions and transactions becoming accepted into the mainstream. MasterCard is to be commended on their initiative in bringing together global players across industries to work together on this common goal," said Chris Jackson, vice president and general manager of Motorola's Personal Networks Group, EMEA. "To build an environment for secure transactions in mobile e- business, it is beneficial that all key stakeholders participate in the process. It is thus a consistent step for the initiators of the MeT Initiative to cooperate with the Global Mobile Commerce Forum to achieve a common goal," said Martti Granberg, director, E-business Technologies of Nokia Mobile Phones. The last Global Mobile Commerce Forum meeting, which was co-hosted by MasterCard's strategic alliance partner, Europay International, was held in March in Genval, Belgium. The event attracted more than 150 industry players from around the world. A wide variety of mobile commerce solutions were discussed at the event. The MasterCard Mobile Commerce Forum meets quarterly to develop solutions to facilitate online payments capabilities through mobile devices, making them secure, consistent and globally interoperable. "This forum includes key industry players, network operators, financial institutions and merchants, working together to address the full spectrum of issues related to mobile commerce," said Chris Jarman, senior vice president, Mobile Commerce, MasterCard International. "As a leader in payment systems technology, this is a classic role for MasterCard. We are acting as a facilitator in the mobile commerce arena to help bring solutions to market." "Europe is leading the world in the development of innovative mobile commerce applications. Europay International is delighted that MeT has joined a truly open initiative that will help accelerate the roll-out of mobile commerce in Europe and provide many benefits to our member banks and their customers," said Eric Joye, director, Services Group at Europay International. About MasterCard International MasterCard International has the most comprehensive portfolio of payment brands in the world. More than 1 billion MasterCard, Cirrus and Maestro logos are present on credit, charge and debit cards in circulation today. An association comprised of 22,000 member financial institutions, MasterCard serves consumers and businesses, both large and small in 210 countries and territories. MasterCard is the leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. With more than 18 million acceptance locations, no card is accepted in more places and by more merchants than the MasterCard Card. In 1999, gross dollar volume exceeded US$727 billion. www.mastercard.com About Europay International |
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