Royal Philips Electronics and Visa International formed an alliance to
jointly promote and develop the application of contactless chip technology
for payment transactions.
The cooperation between the two companies will help promote secure
universal commerce to the consumer and to businesses worldwide such as
content providers, merchants and banks.
Through the alliance, Philips and Visa intend to explore a wide variety
of applications and engage potential partners, such as handset and
electronic device manufacturers and service providers, in areas such as
gaming, ticketing, music, mass transit, and home shopping.
Both parties have signed a Memorandum of Understanding (MOU) that
outlines the scope of cooperation between the two companies. full article
