The concept of using Mobile Phones to make Mobile Contactless Payments (MCP) in a secure and convenient manner is considered to be the next
logical step in the development of mobile applications and payment services.
MCP, as described in this document, refers to a payment application residing in the Universal Integrated Circuit Card (UICC) (also known as the “SIM
Card”) within the mobile phone that employs Near Field Communication (NFC) technology.
Realising this opportunity requires a close collaboration between the key players in Mobile Communications, Payments and NFC business ecosystems,
in particular between the Mobile Network Operators (MNOs) and the Payment Services Providers acting as Issuers.