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m-banxafe: World’s First Secure SMS Payments Service

Gemalto - a company formed from Axalto and SIM card supplier, Gemplus - and Banksys have launched an SMS-powered mobile payments service in Belgium, which the companies say is the “World First” ever secure SMS payment service. Banksys, the company behind the authorization, security and guarantee of electronic payments, developed a technology, called m-banxafe, which works with every major bank in the country.

Gemalto says the system can be utilised to pay for virtually anything from home deliveries and baby-sitting to taxi fares. Through an easy-to-navigate menu, the payee enters a payment request into his mobile phone. The payer receives this request, specifying the amount and the name of the payee, on his handset screen and accepts the transaction by entering the secret code he selected at service activation.

Once a potential user signs up, he or she simply keys a payment request into their mobile phone, the payee receives payment details by SMS and accepts them using a PIN code. Once completed, both parties get confirmation via text. Activating the service requires a "3G" SIM card from Gemalto and a trip to the ATM to green light it. Belgian carrier BASE is the first to sign up for the application.

Banksys' m-banxafe enables reloading of the calling credit and live access to the account balance. This application has been designed in cooperation with all Belgian banks, ensuring the same level of security as that achieved with a banking card. From now on, all new Base subscribers will be issued an m-banxafe-enabled SIM card.

Gemalto also provided the specific personalization services required to guarantee the highest levels of security for SMS-based transactions. The service went live on March 20, 2007.

This revolutionary service is extremely convenient, as it enables consumers to pay with their mobile phone anytime, anywhere, quickly and easily. Always available, it also permits merchants to get paid immediately.

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