A new, cross-industry group, the Mobile Payment Forum has been launched to enable secure, user-friendly mobile payment transactions and expand the global market for mobile commerce.
American Express, MasterCard, Visa and JCB have joined forces to
standardize methods of authenticating cardholder identities and
provide a secure way for consumers to make purchases from mobile
phones and other portable devices.
Focusing on payment card transactions, which are used in almost
93% of all e-commerce transactions, the Mobile Payment Forum will
address key areas such as interoperability, passwords, cardholder
authentication and encryption methods. The Forum aims to offer
consumers a secure and seamless m-commerce payment experience with
greater consistency, regardless of where they are in the world,
what device they use, where they shop or which payment card they
use.
The Forum hopes to be instrumental in reducing industry
fragmentation and establishing a more stable environment for
vendors to develop products. The Forum’s members will include
financial institutions, telecommunications operators,
wireless-device manufacturers, merchants, content providers, and
software and hardware developers and vendors.
