Mobile wallet project

The mobile industry has finally united to develop a plan to increase the functionality and features of mobile phones. Consumers would be able to use their mobile phones as a wallet, a ticket or a payment device at point of sale, by just entering a PIN number. KPN, O2, Orange, SingTel, Vodafone, AT&T, China Mobile, NTT DoCoMo, Maxis, Mobilkom Austria, SFR, Wind, Telenor and TeliaSonera, Nokia, Samsung, LG and MasterCard have launched “Pay-Buy Mobile” initiative. Trials are scheduled to be initiated in October.