[Fwd: MET = Son of SET]

[R. A. Hettinga]

--- begin forwarded text


Status:  U
Sender: <dbs at philodox.com>
Date: Tue, 08 Jan 2002 14:07:31 -0400
From: Ian Grigg <iang at systemics.com>
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To: Digital Bearer Settlement List <dbs at philodox.com>
Subject: [Fwd: MET = Son of SET]
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-------- Original Message --------
Subject: MET = Son of SET
Date: Tue, 8 Jan 2002 15:19:10 +0000
From: <someone>
To: Ian Grigg <iang at systemics.com>,...

http://dailynews.yahoo.com/h/nm/20020108/tc/tech_mobile_wallet_dc_1.html

American Express and HP Join M-Commerce Alliance

LONDON (Reuters) - U.S.-based financial services company American
Express and computer technology group Hewlett-Packard said on Tuesday
they had joined Mobey Forum, a consortium of banks and cellphone makers
which intend to set global rules for mobile commerce.

American Express, which joins Mobey Forum after payment card rival Visa,
said it wanted ``to influence the future direction of the wireless
industry at a local and international level.''

The Mobey Forum was set up by 10 leading European banks and the
continent's largest mobile phone makers, and has since been backed by a
host of other European banks and international technology service
providers.

The two big U.S. names of American Express and HP give the initiative,
dominated by European names, a higher international profile.

``These are two global brands. I am delighted they are joining the Mobey
Forum,'' said Bo Harald, chairman of the forum.

After its launch in May 2000, Mobey Forum formulated the technical rules
for mobile commerce in June 2001. Wallet cellphones will be available
later this year. The forum wants to build its Mobile Payment
Architecture (MPA) into the de facto world standard for mobile commerce.

The Mobey Forum will integrate another set of mobile commerce standards
from the MET alliance, a separate consortium formed at the same time in
2000, which has laid down rules for user friendliness and consistency of
mobile payments.

The MET alliance and the Mobey Forum -- which are backed by many of the
same companies, including Nokia (news - web sites) of Finland,
U.S.-based Motorola and Sweden's Ericsson (news - web sites) -- are
currently testing a Nokia phone with two built-in subscriber
identification module (SIM) cards.

SIM cards are the small chips found on most credit cards and telephone
cards.

The advantage of having two SIM cards in one cellphone is that banks
have control over one SIM card and the operator controls the other card
that authorizes calls. It means banks can offer their services
independently of mobile operators.

The new phones will connect the customer in a shop to the vendor's
payment terminal over a short, non-telephony link -- this will be done
via infrared or the recently launched Bluetooth radio technology.

The customer can then pay from money stored on his SIM card, or
authorize an amount to be deducted from his bank account.

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-- 
-----------------
R. A. Hettinga <mailto: rah at ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'



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