A Wicklow-based company has developed technology which it claims will help accelerate the use of mobile phones for secure payments.
Network365 has launched WAP (Wireless Application Protocol) Wallet, a fully-encrypted system which it says secures confidential transaction information as it is transmitted between mobile phones and online sellers.
The company is working closely with Esat Digifone, and will shortly demonstrate the service through its mobile network. The first goods available for purchase using the WAP Wallet will include flowers, chocolates and wine.
WAP is a secure standard that allows users to access information instantly via hand-held wireless devices such as mobile phones, pagers, two-way radios, smart phones and communicators.
WAP-enabled mobile phones have only become available recently, but strong demand is forecast because users will be able to access their e-mail, and purchase goods and services through their mobile phones.
The provision of end-to-end security has been identified by Nokia and other manufacturers as one of the key facilitators of the technology. Nokia has told Network365 that its SSL (Secure Systems Layer) secured technology will help bridge the current security gap.
"The interest expressed in this new technology has been phenomenal," according to Mr Denis Hennessy, chief technology officer with Network365. "While the technology is currently only available to consumers over the Network365 website which acts as a gateway to several retailers' sites, we are currently in discussions to license WAP Wallet to a number of Irish and international telecoms companies."
The WAP Wallet works by only releasing credit card details when the user is correctly authenticated and the merchant site connection is secure.
Users will register through Network365's website, by entering purchasing details including name, shipping address and credit card details. The user then selects a four-digit PIN code which is used every time a shopper purchases a product using a mobile phone. The PIN will activate the user's payment details, which are then passed to the merchant via a secure, encrypted connection.
Network365 describes itself as a Commerce Service Provider (CSP), which designs, constructs and hosts e-commerce sites. It was founded by Mr Raomal Perera, one of the founders of ISOCOR which was recently bought by US company Critical Path.
Network365 will demonstrate the new technology at an Irish Internet Association seminar on WAP next Tuesday at 6.30 p.m. The event is open to IIA members and non-members at the Institute of Engineers, Clyde Road, Dublin 4.
