Visa Approves RIM's Method of Mobile Payments
RIM today announced that Visa has approved its method method for secure mobile payments. Specifically, Visa approved RIM's Secure Element Manager (SEM) solution for NFC (Near Field Communication) mobile payments.
RIM’s SEM is the backend solution for carriers that can securely manage credentials on SIM cards installed in all types of NFC-capable mobile devices.
“The approval from Visa of RIM’s SEM solution is an important step in that it will enable carriers to support Visa issuing banks and financial institutions,” said Frank Maduri, senior director of NFC Services and TSM product management at RIM.
Today’s announcement from RIM builds on the recent deployment of mobile payments in Canada by EnStream, a joint venture of Bell, Rogers and TELUS, which uses RIM’s SEM solution.
RIM is expected to unveil its new BlackBerry 10 devices at the end of this month.