The NFC trade association has signed a collaboration agreement with the international mobile financial services forum to develop open standards for the delivery of secure, interoperable mobile financial transactions.
The NFC Forum and the Mobey Forum have signed a memorandum of understanding that will see the two groups working together on the creation of open standards for the delivery of secure and interoperable mobile financial transactions.
The agreement was signed by NFC Forum chairman Koichi Tagawa and Mobey Forum executive director Liisa Kanniainen during the Mobile Monday meeting held in Oulu on Monday alongside the NFC Forum’s quarterly members’ meeting.
Under the agreement The Mobey Forum will work with the NFC Forum to ensure the business requirements of the financial community are taken fully into consideration in the technical standards being developed by the NFC Forum.
“Together with NFC Forum we can develop standards and remove other barriers to support banks to go to market faster with mobile payment solutions that their clients are looking for,” commented Mobey Forum chairman and Deutsche Bank executive Ron van Wezel. “We believe that the enablement of open services, open provisioning and technical standards facilitate the creation of new services for growth and healthy financial returns in the entire ecosystem.”
“Financial services applications are among the key uses of NFC technology worldwide,” added the NFC Forum’s Koichi Tagawa. “As the global industry association driving mobile financial services, the Mobey Forum will be an invaluable ally in making it easier for mobile users everywhere to perform a broad range of financial services transactions.”
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