20 October 2017
visit www.avoka.com

Mobile operators win EU funding for payment system trials

19 November 2002  |  3312 views  |  0 mobile

A major project to harmonise payment standards across diverse mobile networks has won funding from the European Union, paving the way for large-scale trials of the system.

The project, known as Trusted Transaction Roaming (t2r), is being managed by wireless commerce industry group Radicchio and implemented by Vodafone, Orange (France), Gemplus, SmartTrust and Globalsign. It aims to create a single, secure infrastructure for customer payment and identity sharing among banks, carriers, and merchants.

The project has received funding from the European Union’s Framework Programme for Research and Technological Development and been presented to the European Committee on Banking Standards for approval. A proof of concept pilot of the t2r is scheduled to go live in Q1 2003.

It is envisaged that t2r will operate a three-tier security system, with PIN entry required for micropayments, digital certification for EUR15 to EUR100 payments, and full-blown PKI for spending above this level.

Initially posited as an interoperable merchant-friendly solution for consumer spending over multiple mobile networks, it is envisaged that t2r could ultimately provide the framework for an EU-wide digital identity scheme.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Optical antenna paves the way for 'point and pay'

Optical antenna paves the way for 'point and pay'

12 November 2002  |  5499 views  |  0 comments
Visa to explore voice authentication for secure payments

Visa to explore voice authentication for secure payments

24 October 2002  |  8820 views  |  0 comments
PayCircle issues m-payment Web services spec

PayCircle issues m-payment Web services spec

09 October 2002  |  2901 views  |  0 comments
Mobipay signs with SchlumbergerSema ahead of m-payments launch

Mobipay signs with SchlumbergerSema ahead of m-payments launch

26 September 2002  |  3494 views  |  0 comments
Vodafone UK moves into online card payments

Vodafone UK moves into online card payments

25 September 2002  |  6269 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.innotribe.com

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15883 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8994 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8105 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7175 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6312 views comments | 6 tweets | 3 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job