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Telecom Italia SpA Announces New Agreement with Visa Europe to Enable Mobile Payments

Tuesday, 12 Nov 2013 05:00am EST 

Telecom Italia SpA announced that it has signed with Visa Europe a strategic agreement for the payment for goods and services using a wide range of mobile handsets. Under the terms of the agreement the two companies will make mobile payments services available to the over 31 million TIM customers across Italy, in support of Visa’s vision to reduce the use of cash at the point of sale. The new service, building on pilots carried out in the Milan area in fiscal year 2012, will allow consumers to use selected smart phones 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 secure, quick and convenient P2P (person-to-person) payments, to enable money transfer from smart phones 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 smart phones equipped with Near Field Communications (NFC) technology, with a launch expected in fiscal year 2014. The service will be developed with the same industry security standards used for all Visa contactless payments and supported by the security inherent in TIM’s SIM card and supporting infrastructure. 

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27 Mar 2015