C-Sam Inc announces OneWallet, the first payment solution for a mobile handset for physical and virtual payment transactions Monday 18 February 2002 PDF Print Consumers who have an Ericsson R380 handset will in the future be able to make credit or debit card purchases from their handset using digital versions of their payment cards stored in C-SAM’s OneWallet. "It turns the R380 into a real wallet. I have all my cards and receipts securely stored in the phone and can use them like in my leather wallet. Moreover, the cards can be issued over the air and their logos are displayed on the phone screen making it intuitive for the consumer and providing valuable brand equity to the card issuers,” said C-SAM’s founder and CEO Sam Pitroda. Indeed users can store their payment and non-payment cards in a client based wallet on the handset and use it for purchase transactions and financial management with online and real world merchants. When making the payment the user simply selects the payment card icon in C-Sam’s OneWallet and presses the "BUY" button. For a secure transaction the user is asked to enter his/her PIN and the payment information is "beamed" to the Point of Sale device of a real world merchant using the Infrared Financial Messaging (IrFM) standard. "We see Sony Ericsson’s smartphones as the perfect devices for making payments. The large screen size and the touch-screen interactivity makes it fast and easy to use", says Anil Raj, Corporate Vice President of Sony Ericsson. /ENDS Editors’ Notes C-Sam Inc is headquartered in Chicago and has offices in London, Tokyo and Bangalore, India. It provides a secure client based digital wallet capable of conducting physical, virtual and proximity payments. C-Sam is working with device manufacturers, banks and mobile operators to enable mobile payments that adhere to open, industry based standards. It is currently planning and implementing field trials in several markets in the Far East, Europe and North America. C-Sam holds several patents in the area of wireless payments in the US and has patents pending in Japan and Europe. It is an active member of the IrFM and MeT standard setting bodies. IrFM has been initiated as an IrDA special interest group to develop specifications for the transmission of payment instructions using infrared. Members include Visa, Ericsson, Nokia, Motorola, Palm and Extended Systems The MeT Initiative is creating a common platform upon which various services can be built from a common set of components. MeT -based services can be accessed both remotely and locally and address the needs of application areas such as identification, authorisation, credit and debit card payments, loyalty schemes, and ticketing. Members include Ericsson, NEC, Matsushita, Nokia, Siemens, Sony. Photo available Contacts: George Shaw, Shaw PR 020 7226 9177 firstname.lastname@example.org C-Sam, Inc Martin Wittwer Chief Operating Officer +44 (0) 781-306-9209 email@example.com http://www.c-sam.com C-Sam Inc 5 Lower Regent Street London SW1Y 4RL This press release was distributed by ResponseSource Press Release Wire on behalf of Shaw PR in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.