Visa approves RIM's mobile payment solution

WATERLOO - Visa has approved Research In Motion’s secure mobile payments solution using NFC (Near Field Communication) technology. RIM's Secure Element Manager (SEM) is the backend solution for carriers that can securely manage credentials on SIM (subscriber identity module) cards installed in all types of NFC-capable mobile devices. Visa's approval builds on the joint initiative by Telus, Rogers and Bell for their deployment of mobile payments in Canada through EnStream. "The approval from Visa of RIM's SEM solution is an important step in that it will enable carriers to support Visa issuing banks and financial institutions," said Frank Maduri, Senior...