Brazilian Company Launches NFC P2P Payments with Nokia App
Brazilian online payments company PagSeguro along with Nokia has launched an NFC peer-to-peer payment service enabling users to pay small merchants and transfer money to friends using Nokia smartphones.
With the service, which reportedly began last week, buyers and sellers or two friends can tap their phones together to initiate the payment, which is carried out over the network.
Users need an app to use the service, which, according to the Nokia Conversations blog, is available for people with Nokia NFC-enabled Symbian phones, C7 and 701 and Nokia’s MeeGo-based N9–though other NFC-enabled Symbian phones in Nokia's fading Symbian business likely would be able to use the service. It's unclear whether the service remains in the trial phase.
To use the service, both buyer and seller open their PagSeguro apps and enter their passcodes, then the seller or recipient enters the amount to be received.
He then taps his phone against the buyer’s or sender’s handset and the transaction amount appears on the buyer’s screen. The buyer then chooses a payment method, such as a Visa or MasterCard-branded credit card and approves the payment for processing over the network.
PagSeguro users also can pay with other credit cards, such as American Express and Diners, as well as by bank transfer and their PagSeguro accounts.
INdT, the Nokia Institute of Technology in Brazil, reportedly developed the app.
Online payments company PayPal introduced a similar NFC-enabled service last year, an alternative to P2P transfers on Android phones and the iPhone with technology from Bump, which enables users to shake their phones together to make exchanges. The technology uses both the network connection and accelerometers to pinpoint users.
The PayPal P2P payment goes over the mobile network for processing. PayPal is pursuing non-NFC technology, at least for now, for its attempt to expand to payments at the physical point of sale.