Nokia Wallet is happening final negotiations with JP Morgan NFC Rumors ExclusiveFeature Rumor
Posted by Seth PlanckOctober 16th, 2011 at 12:17 PM Filed Under Featured, Latest News, Rumor
Nokia Wallet is happening as final negotiations with JP Morgan Chase are taking place, NFC payments for Windows Phone 7?
NFC Rumors has received exclusive information about Nokia planning the final stages of the Nokia Wallet. This information comes from another trusted source to NFC Rumors that has told us that Nokia is in the final stages of negotiating with JP Morgan Chase to act as the banking arm of the Nokia Wallet.
We heard that Nokia was planning its own Nokia Wallet or NFC mobile wallet weeks ago, but we didn’t have anything concrete enough to report it to our NFC readers. That has since changed. We are now being told that negotiations are in the final stages and that Nokia is likely to go through with this partnership. This new revelation will change the wallet wars and has various connotations that we can now explore.
Nokia Wallet is an NFC mobile wallet destined for Windows Phone 7 devices and possibly Symbian Belle devices
NFC payments is just one aspect of NFC and Nokia has veered away from NFC payments thus far as if it has the Plague. Now we know why. It needed the right product and proposition to woo consumers. Let’s not forget Nokia has been the number one phone manufacturer in the world for a long time.
Nokia has promoted NFC more than any other handset manufacturer and it is great to see that the Finnish company is hedging its bets on an NFC mobile wallet that at this time is being dubbed the Nokia Wallet. As you will probably know Nokia is becoming a Microsoft enterprise that will build and promote Windows Phone devices in the future. In fact, at Nokia World at the end of this month we are expecting to see one or possibly even two devices if our sources are correct. Adding JP Morgan Chase to the mix adds a lot of credibility here the the US and allows Nokia to build a widely accepted NFC mobile wallet that will be accepted by the masses for contactless payments using a Nokia NFC phone.
Nokia committed a while back to including NFC in all handsets. In fact, Nokia swayed away from saying that NFC payments were impossible in current Symbian Belle NFC devices. We have been told that the Nokia Wallet is happening and that the JP Morgan Chase deal is nearly done, which is great news for consumers. However, the Nokia Wallet may not be music to Microsoft’s ears who are planning an NFC mobile wallet of their own. That may not also suit Isis, who will want a piece of the pie if it is to allow the Nokia Wallet on their networks that include AT&T, Verizon and T-Mobile USA in the States. From our perspective, the more competition the better. The more consumer choice, the quicker the nascent NFC payments and NFC mobile wallet industry will mature. We feel Nokia is in the perfect position to launch a Nokia Wallet especially with such a large banking institution as JP Morgan Chase.
Nokia Wallet could evolve the NFC mobile wallet industry behind fighting for control
Our source for this Nokia Wallet NFC Rumor is trusted. Although things can change in a blink of an eye in deals, such as agreements between major corporations, we have been told this deal is nearly completed. At this point it is just a rumor, but one that is coming from an insider we know and trust. We think that a Nokia Wallet that uses NFC for contactless payments would have far and wide impacts in the marketplace and we hope that the deal is ready to be announced at Nokia World, but from what we are hearing this official announcement may happen in 2012.