Under the terms of the agreement, the two companies will make mobile payments services available to the 31 million TIM customers across Italy.
The new service, building on pilots carried out in the Milan area in 2012, will allow consumers to use selected smartphones to make contactless transactions at enabled point of sale terminals across Europe. TIM will also be installing contactless terminals in their stores across Italy.
TIM and Visa will also launch services supporting P2P payments, to enable money transfer from smartphones to other people, and e-commerce payments, allowing customers to shop online with their mobile phones.
The TIM-branded Visa card, designed in partnership with Intesa Sanpaolo, will be made available to TIM customers on smartphones equipped with Near Field Communications (NFC) technology, with a launch expected in 2014.
The Visa contactless payments service will be the core of the TIM-branded ‘mobile wallet’, an open digital wallet created by TIM to host and support services from a range of partners including financial institutions, retailers, transport and public utility companies.
In recent news, Visa has accredited FIME, a French provider of consulting and market integration testing services for smart devices and secure chip-based applications, to deliver Visa Mobile Payment Application (VMPA) testing.
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