Cybercom turns your mobile into a digital wallet

Cybercom will exhibit its transformation of a mobile telephone into a digital wallet at Mobile World Congress, a mobile trade show in Barcelona that starts on Monday. Together with a leading payment solutions provider, Cybercom is developing the technology that will enable contactless payments at parking meters, stores, and vending machines.

“We’re currently negotiating with several major banks that are interested in our development project," says John Persbeck, project owner at Cybercom. “We're also talking with several companies that are interested in using our solution to facilitate payment for their products.” Cybercom’s pilot project is unique. It connects NFC technology, which makes it possible to complete a payment transaction by simply swiping the mobile, with WPKI technology, which ensures high security when making payments through the mobile. Several industry analysts believe that the mobile phones released this autumn will already be technically capable of using the technology currently under development at Cybercom. At the trade show in Barcelona, Cybercom will demonstrate how the entire transaction chain works. “We’re currently investigating how to commercialise the solution together with our potential partners," said Persbeck. Johan Persbeck will be at Mobile World Congress in Barcelona with more information. Patrik Boman, Cybercom's president and CEO, will also share his view on the potential of the digital wallet technology for the Cybercom Group.