Italy Telecom Operators Launch Joint Digital Payment Platform
May 09 2011 - 9:08AM
Dow Jones News
Italy's main telecom operators Monday launched a common platform
that will allow their clients to use mobile devices to pay for
digital content and services by using their mobile accounts.
Telecom Italia's (TI) mobile arm TIM, Vodafone (VOD), Wind SpA,
3 Italia, PosteMobile and Fastweb will provide digital content
providers and their customers with a shared standard that converts
mobile phone numbers into client authentication keys and transforms
the mobile phone into a tool for paying for online digital content
and services.
"The joint launch of this initiative opens the door to
m-commerce for all. A secure and open system based on a device in
extremely widespread use," the companies said in a joint
statement.
The new service will allow clients to buy digital services with
a simple click, if accessing from their mobile phones, or by using
their mobile phone number and a password from other devices, such
as PCs and tablets.
The companies said their initiative provides a common payment
platform, offering immediate access to all telecoms operators,
representing a total of 46.6 million Italian SIM card owners.
Research by PwC Advisory, which advised the telecom operators on
the initiative, suggests the Italians' reluctance to use credit
cards--90% of transactions are still settled in cash, compared with
an EU average of less than 70%; the small average value of
individual purchases; and the Italians' fondness for mobile
communications, all point to significant growth potential for this
already fast-growing market.
Globally, it is estimated the market for mobile payments will be
worth approximately $500 billion by 2014, the companies said.
-By Giada Zampano, Dow Jones Newswires, +39 06 69766920;
giada.zampano@dowjones.com
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