Nokia and PayMate, an India-based wireless transactions platform provider, have developed a mobile payment solution based on NFC technology. PayMate’s platform links a customer’s mobile phone to a bank account, credit card or a prepaid account. With the recent launch of Nokia’s NFC-enabled phones, PayMate is going to showcase some of the capabilities of NFC to the Indian market.
Using Nokia’s Just Tap services, the user can purchase items by taping his or her device against an NFC enabled tag on an item he/she wants to buy. The product information is than transferred to the customer’s phone via NFC. If the phone is linked via PayMate to a payment method, the customer can then authorize the transaction directly on the phone. According to the company, the service also supports coupons, promotions and advertisement features.
Just Tap can also be used to simply transfer information from one NFC device to another. It was used by Nokia in promotions for the Ra.One Bollywood release to give away film-related content such as ringtones, games and wallpapers. Ajay Adiseshann, Founder and MD of PayMate commented: “The NFC technology being quite popular in tech-forward countries such as South Korea and Japan, we are proud to have collaborated with Nokia on the largest deployment of NFC touch points in India, which also happens to be one of the single largest deployments worldwide of NFC technology, and look forward to seeing the potential of NFC in areas such as mobile payments.”