LONDON Nokia is forming a joint venture with Giesecke & Devrient , a specialist developer of smart cards, to develop applications and management systems for use with Near Field Communication (NFC) technology.
The Finnish mobile phone maker will hold 43 percent of the venture, with Giesecke & Devriant (Munich, Germany) controlling the remainder. Financial terms of the deal were not revealed.
Near-field communications technology is a short-range, standards-based wireless connectivity technology said to enable safe contactless transactions and allow consumers access to digital content and connect electronic devices with a single touch.
The joint venture, which is expected to begin operations in the fourth quarter of this year, will enable applications such as credit cards or transport tickets to be securely and easily downloaded over-the-air to NFC enabled mobile devices.
The companies will develop, implement and operate a secure and versatile service platform to manage the over-the-air transactions with NFC enabled devices. The service platform will be operated in a white-label mode with in-built interfaces to the IT systems of the actual service providers, such as banks issuing credit cards.
The companies will also target their solution at mobile operators and transportation groups.
"With the new platform and the services running on it, we are combining two technologies of the future – cellular phones and secure, contactless smart card technology," said Karsten Ottenberg, CEO and Chairman of the Management Board of G&D. "Giesecke & Devrient believes that the secure chip management platform offers vast potential for new global markets. And we enjoy a solid first mover advantage."