HEADLINE NEWS
UK: Major UK Bank Launches Large M-Payment Trial with iPhone Attachment
UK bank NatWest has enabled 1,000 customers to tap to pay with its TouchPay service using a Visa payWave application stored in an NFC-enabled attachment for the iPhone 4 and 4S. The iCarte add-on from Canada-based Wireless Dynamics carries an embedded secure element that will store the payWave debit application. The attachment also sports a full NFC chip. Users can tap to pay at about 140,000 point-of-sale terminals accepting payWave in the UK and others abroad.
It's believed to be the first major NFC or contactless-mobile payment project by any part of the RBS Group, which is NatWest's parent. NatWest is RBS's major retail banking unit in England and Wales. RBS held a small internal trial of NFC payment five years ago at its Edinburgh headquarters, but had been silent with NFC since then. The foray into mobile payment helps RBS start to close the m-payment gap with rivals Barclays and Lloyds.
* Trusted Service Manager: Defined loosely to include companies or other organizations securely distributing, provisioning and managing applications, generally over the air, on secure elements in NFC mobile phones; or licensing their platforms for this purpose.
N/A: Not available or not applicable.
Last update: Oct. 2012
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