Nokia, Nordea and Visa International to pilot the world's first Electronic Mobile Payment Services based on dual chip technology

Nokia, Nordea and Visa International have today announced that they have started a pioneering pilot to test and verify how real life electronic commerce can be conducted by using mobile phones. The Electronic Mobile Payment Services (EMPS) project is distributing 150 specially designed mobile phones to customers in the Helsinki metropolitan area. Customers can make purchases through their mobile phones and pay using a Nordea issued plug-in size chip card which resides on a special chip card reader inside the phone. Visa Electron transactions can be done by using this additional chip with WIM (Wireless Identity module) application.

The main goal for this joint initiative is to develop rugged and functional technology for mobile commerce business. The project tests the viability of the dual chip concept in this real life pilot. In the beginning of the pilot phase, the EMPS initiative will involve two Finnish merchants, the Internet-based grocery store Ruoka.net, and the movie theatre Kinopalatsi. Based on the outcome of the pilot, the project will be able to submit valuable information to various mobile commerce fora and standardization bodies, such as the MET consortium and the Mobey Forum.

The mobile commerce concept tested in this project, is called dual chip. The dual chip concept consists of a chip card that can be issued by a bank and a GSM SIM card. In the pilot, the chip card which accommodates WIM application, is inserted into the WAP (Wireless Application Protocol) enabled mobile phone, providing the customer with an integrated payment functionality. WAP is used as a transport layer, and the wireless authentication and signature method is based on WAP and WIM specifications. The dual chip concept is compatible with the recently announced preferred payment architecture by the financial industry-driven forum, the Mobey Forum.

"We are excited to see how the EMPS pilot will be received by real consumers. This pilot has global signifigance because we can now for the first time receive first hand experience and feedback from both consumers and financial institutions responsible for issuing and administering the payment functionality. For Nokia, the dual chip concept piloted in this project is one of the mobile payment options that we are working on and which we will be supporting in our future mobile terminals," said Martti Granberg, Director, Nokia Mobile Phones.

"This launch of the pilot is a proof of Nordea's innovative role in driving developments in m-financial services, and it also highlights the part of Nordea's strategy aimed at promoting e-habits for a broader public. Dual chip is ideally suited for consumers who wish to use banking services and pay in a secure and convenient way," said Bo Harald, Head of Nordea's Electronic Banking.

"As part of our continued collaboration with Nokia, we are very pleased to see a real mobile commerce solution being used by Nordea Visa cardholders. Our involvement in the first dual chip pilot in the world demonstrates our commitment to adapt our products to any environment ensuring convenience and security regardless of the channel used to shop. Our ability to fit a standard multi-application Visa Open Platform card into a Nokia mobile phone is a clear indication that Visa, together with its partners, is leading the development of future payments systems," said Jon Prideaux, Executive Vice President, Visa International EU.

About Nokia
Nokia is the world leader in mobile communications. Backed by its experience, innovation, user-friendliness and secure solutions, the company has become the leading supplier of mobile phones and a leading supplier of mobile, fixed and IP networks. By adding mobility to the Internet Nokia creates new opportunities for companies and further enriches the daily lives of people. Nokia is a broadly held company with listings on six major exchanges.

About Nordea
Nordea is the leading financial services group in the Nordic and Baltic Sea region and operates through six business areas: Retail Banking, Corporate and Institutional Banking, Asset Management, Investment Banking, Life Insurance and Pensions and General Insurance. The Nordea Group has nearly 10 million customers, 1,260 bank branches and 125 insurance service centres in 22 countries. The Nordea Group is a world leader in Internet banking, with 2.5 million e-customers. The Nordea share is listed in Stockholm, Helsinki and Copenhagen. www.nordea.com

About Visa
Visa is the world's leading payments brand and the largest payments system worldwide. Visa-branded cards generate almost US$2 trillion in annual volume and are accepted at over 22 million locations around the world. The Visa organisation plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce - the ability to conduct commerce anytime, anywhere, over any type of device.

Further information:

Nokia Mobile Phones
Communications
Tel. +358 7180 08000
www.nokia.com

Nordea
Bo Harald, Head of Electronic Banking, tel. +358 9 165 42256, +358 50 64 101
Eero Vasenius, Manager, Research and Development, +358 9 165 24931
Liisa Laine, Media Relations, +358 9 165 42655

Visa International
Corporate Communications
Terrence Gibbons
Phone : +44 20 7795 5325
Fax : +44 20 7795 5560
gibbonst@visa.com
www.visaeu.com