New Industry Group to Foster Standards, Advance Global Market for Mobile Commerce.
October 29th 2002 - Altamedius, the leading provider of next generation payment intermediation technology, has joined the Mobile Payment Forum, a global, cross-industry group formed to enable secure, user-friendly mobile payment transactions and expand the overall market for mobile (m) commerce. Founded by American Express Company, JCB Co., Ltd., MasterCard International and Visa International, the Mobile Payment Forum aims to standardize the building blocks necessary to deploy global solutions for secure mobile payments.
Focusing on payment card transactions, which are used in almost 93 percent of all e-commerce payments, the Mobile Payment Forum will address key areas such as interoperability passwords, cardholder authentication, and encryption methods. Led by a Board of Directors comprised of leading mobile, technology and financial companies, the Forum will develop requirement documents, white papers, use cases, and technical specifications. The Forum will also drive collaborative work with other industry consortia and standards bodies.
"The Forum's charter fits perfectly with our mission to accelerate the global volume of secure Mobile and Ecommerce transactions", said Jack McDonnell, Director of Marketing and Business Development at Altamedius. "Industry standards and interoperability are fundamental to market growth and we view the Forum as playing a pivotal role in this regard."
Altamedius has developed iCon(tm) as an open, standards-based product, combining world class EWallet and Stored Value Account (SVA) functionality. The platform features integral support for Micro payments, Macro payments, Mobile payments and Person-to-Person payments. "Membership of the Mobile Payment Forum further underpins our commitment to an aggressive, standards-based, features and services roadmap", said McDonnell.
"We are very pleased to welcome Altamedius to the Mobile Payment Forum," said the Forum's co-president, Simon Pugh, Vice President, Standards and Infrastructure, at MasterCard International. "As a global, cross industry organization, the Mobile Payment Forum places great emphasis on the contributions from organizations such as Altamedius. These contributions will play a major part in helping us to achieve our goals quickly and efficiently."
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