Today in New York, Visa Inc. and Nokia have announced plans for an innovative payment method. Visa payment and payment related services like contactless and remote payments, money transfer, alerts and notifications, will become possible solely using Nokia's mobile phones. The service is expected to become available on Nokia 6212 Classic, which will arrive in stores starting October 2008.

In today's Visa press release, Head of Global Product Innovation at Visa Inc., Tim Attinger, said, "Mobile payments and services are one of the most vibrant areas of innovation at Visa, as we seek to accelerate the migration from paper forms of payment to digital money." Furthermore, he added that, "Visa is already better money - more convenient, reliable and secure than cash. Putting Visa payments and exciting new services into the NFC-equipped Nokia 6212 classic adds another layer of convenience and security for Visa account holders and Nokia customers around the world."

Nokia's 6212 Classic will include integrated Near-Field Communications chipsets (NFC). These chipsets will allow the mobile device to be used just like a contactless payment card, enabling consumers to simply wave the device just a few inches away from a special reader to complete a Visa transaction. The NFC technology isn't all that new, as Nokia and Visa first demonstrated it in December 2005, when they launched a large scale NFC trial in the US at the Phillips Arena in Atlanta.

"NFC-capable devices such as the Nokia 6212 Classic are set to change the way mobile phone users interact with devices and services in their surroundings," the Head of Near Field Communications, Nokia, Jeremy Belostock said in the same press announcement."With our partnership with Visa, we're bringing the value of electronic payments and services directly into the mobile phone, making our customers' everyday lives more convenient."