The shared Trusted Service Manager approach of Bell ID and Monitise will create separate environments for both chip security and the management of consumerâs financial accounts, therefore combining trusted card security with a proven, mass-market, consumer interface.
David Orme, CEO of Bell ID, commented: âMillions of consumers worldwide are already using their mobile phone to manage their money while on the move. Now, the challenge is to ensure that contactless payments from handsets are as secure and mass-market as mobile banking has already become.â
âMonitise is widely acknowledged to be the industry leader in the delivery of consumer focused, mobile money servicesâ, Erik Vermeer, Bell IDâs Technical Director, continues. âBy combining this with our expertise in card and chip management, we are confident that the Trusted Service Manager is the most sustainable approach to âbeep and payâ payments from the mobile phone.â
Alastair Lukies, Chief Executive of the Monitise Group added: âThe mobile phone has quickly established itself as a major banking channel. However, for contactless payments to become mainstream, the industry needs to work together to ensure that the service is âbank gradeâ from the outset.â
âMonitise and Bell ID have both made a name for themselves by delivering mass-market, banking grade, secure services that allow consumers to adopt new payment services with confidence. Iâm confident that by working together we can help create a solid and practical showcase for the Trusted Service Manager role in contactless mobile payments.â