PayMate associates with Nokia

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

With the recent launch of Nokia's NFC enabled handsets, PayMate has partnered with Nokia to showcase to the Indian market some of the capabilities of NFC and bringing NFC to the Indian mainstream.

NFC (Near Field Communication) uses radio frequency identification technology to allow an NFC enabled device to swap information instantly in real time.

Ajay Adiseshann, Founder & MD, PayMate said, "Besides being a cost effective and user-friendly technology, the basic requirement to be able to use this technology is having an NFC enabled device. The NFC technology being quite popular in tech-forward countries such as South Korea and Japan, we are proud to have collaborated with Nokia on the largest deployment of NFC touch points in India, which also happens to be one of the single largest deployments worldwide of NFC technology, and look forward to seeing the potential of NFC in areas such as mobile payments."

Viral Oza, Director Marketing Nokia India said, "As a market leader, it is our constant endeavor to offer innovations which make our consumer's life simpler. To create awareness around this technology, we have deployed NFC chips with unique content across almost 1,000 Nokia outlets in the country. The consumer response to the 'Just Tap' with NFC feature on our smartphones has been very encouraging. We are confident of the potential of this technology in the future and are working closely to get the ecosystem ready for this technology."

This experience can also be extended to a convenient and secure checkout and payment with the PayMate solution. Customer could purchase an item by simply tapping their NFC enabled device against an NFC enabled menu or a tag on an item they wish to purchase. All product information could be transmitted to the customer's phone via the information triggered from the RFID tag and the customer can then choose to go ahead and select the item for purchase. Their NFC device could be linked via PayMate to a payment mechanism such as their bank account or a prepaid account and the customer could then authorise the payment directly on to their mobile phones. NFC thereby helps in contactless payments by transforming the mobile phone into a digital wallet, thus eliminating the need to carry cash and credit cards.


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