A group of financial, technology and telecoms companies have formed Mobile Wallet Initiative Austria, a new organisation that aims to create an open nationwide standard for NFC mobile wallets. A commercial launch is scheduled for 2014.

AUSTRIA: Mobile Wallet Initiative Austria is to create an open standard for SIM-based NFC mobile wallets

Members of the new initiative include Austria Card, Card Complete, Drei (Three), Erste Bank und Sparkassen, First Data Austria, MasterCard, Nexperts, PayLife Bank, T-Mobile Austria and Visa.

"To ensure the highest security on the mobile phone a special NFC-enabled SIM card will be distributed by the mobile network operators," the partners say. "At the moment, first feasibility tests are being performed and in autumn 2013 a nationwide pilot will start. The solution will be ready for mass market in 2014."

"With this mobile wallet consumers are able to pay contactless with their mobile phones and subsequently to use special offers like loyalty cards, vouchers and coupons at the point of sale by a simple touch," they add.

"Through this cooperation it is ensured that services from providers of various sectors such as retail, transportation, ticketing, security and banking, etc can be used with a mobile wallet based on a common technology standard."

That way, they explain, "isolated technical solutions can be avoided and a ubiquitous cross-industry acceptance helps to assure customer satisfaction. For instance the integration of both MasterCard and Visa cards into a common mobile wallet offers consumers the highest possible flexibility for contactless payments."