Mobile payment project by Nokia/Visa

The world’s first credit card payment system that allows consumers to shop and pay via their cellphones has been launched in Malaysia by Visa and Nokia. Special Nokia phones using Visa Wave smart card technology does away with the need to swipe the credit card into a reader. Over 200 Visa Wave cardholders are currently undergoing trials to test them at over 2,500 Visa Wave readers located at outlets nationwide. Visa Wave technology is currently used in Malaysia, Taiwan and South Korea, with plans to expand to Japan and Southeast Asia this year.