RealTime IT News

Telecom Giants Seal Wireless E-Commerce Pacts

Telecommunications firms Ericsson, Telefonab, Motorola Corp. and Nokia Corp. Wednesday inked wireless e-commerce pacts to develop a standard in wireless payment transactions.

The three firms will bundle their security technologies for wireless money transfers into a mobile handset platform. Although Ericsson (ERICY), Motorola (MOT) and Nokia (NOK) already feature their own security, the companies said they wanted to alleviate the problems inherent for clients if there are competing systems.

The new platform will be based on Wireless Application Protocol and the firms said they would integrate Wireless Transport Security Layer, Wireless Identification Module and Public Key technologies into the standard.

"Integrating security and transaction applications on a common core standard and platform will create global mass market for e-business," said Matti Alahuata, president, Nokia mobile phones.

Wirless Net communications are expanding rapidly, and Ericsson predicts there will be one billion mobile phone users and 600 million mobile Internet users around the globe in another four or five years.