NFC Joint Venture formed

From the Nokia press release:

"Munich, Germany and Helsinki, Finland - Giesecke & Devrient (G&D), the world's second largest producer of smart cards, and Nokia, a world leader in mobile communications, today announced an agreement with intent to form a joint venture. Giesecke & Devrient will own 57 and Nokia 43 percent of the new company. The joint venture will provide services to the NFC ecosystem by enabling consumer applications, such as credit cards or transport tickets, to be securely and easily downloaded over-the-air to NFC enabled mobile devices. Over-the-air management of the consumer applications is a critical part for the emerging NFC ecosystem, and the joint venture will work closely together with other stakeholders when bringing these services to the market."

Um. Maybe that's a bit of a mouthful. Simply put, it means that Nokia and G&D form a company which will develop solutions which allow you to put your credit card in your cell phone and use it for payment by simply waving it at the cash register, and invite others to join the party, too. Good things ensue: you can turn your credit card off, you can see directly from your cell phone what you have bought, and you don't need to carry that much stuff with you. The difficulty is getting the credit card into the phone, as there are quite a few players in the game who have their own view of how things should work: the credit card company, the bank, the operator, the mobile phone manufacturer, the user himself... You need someone to make it all click.

The downside of all this integration being, of course, that once you put everything in your cell phone (or shoe for that matter, though Nokia gave up shoe business a long time ago), losing it will cause you a bit more trouble than today.

But the thing is, some people like to cram everything into one device so that they don't need to carry everything they own, whereas others are happy with a bunch of different things - one thing should perform one function: a phone is a phone, a music player is a music player, a credit card is a credit card, and a shoe is a shoe. The problem is that at the moment the latter people are well catered for, the former ones not at all...

And yes, it's more complicated than that. And no, these guys are not alone at it. But I wish them good luck anyways.

I'm excited. Are you excited? Well, I am excited.


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"Main_blogentry_270606_2" last changed on 27-Jun-2006 16:09:41 EEST by JanneJalkanen.
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