VeriSign and Visa International ink m-commerce agreement

Mobile payments to reach $1 billion in 2010

VeriSign has entered into an agreement with Visa to support the Visa mobile platform to advance the already fast-growing mobile commerce market.

Visa International senior vice president of innovation, Patrick Gauthier, said the platform provides mobile operators and financial institutions the opportunity to rapidly develop new mobile services utilising the unique interactive features of handsets.

"We are excited to be working with VeriSign to combine secure payments with value-added promotional services," he said.

"Our collaboration is designed to enable consumers to receive promotions and information relevant to their purchase experience anywhere via their mobile phones."

As a result of the agreement, Visa will provide mobile offer management capabilities including the delivery of mobile coupons by leveraging VeriSign's content delivery services.

VeriSign will enable Visa, its members and merchants to create customised campaigns, mobile offers and promotion programs.

Additionally, the service will help marketers understand the performance of their mobile campaigns potentially resulting in better returns on marketing dollars spent.

VeriSign's vice president of industry marketing for financial services, Brian Matthews, said customers are driving demand for new mobile commerce services and applications.

"They need to be able to access information and make purchases in a secure environment anywhere and on any device," he said.

According to forecasts from a recent Juniper report, 2009 and 2010 will represent the start of the wider adoption of mobile payment applications and services and will result in close to $1 billion worth of worldwide payments being made via mobile by 2010.

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