Three major mobile handset manufacturers have formed a mobile electronic transaction initiative to standardise secure mobile commerce.
Nokia, Ericsson and Motorola say the initiative is designed to deliver integrity confidentiality, authentication and non-repudiation to transactions completed using mobile handsets.
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They have promised that their open standards approach build around Wim (wireless identity model) will deliver this breakthrough by 2001. They rejected suggestions that current mobile handsets offered poor security and maintained that Wap handsets already in the market offered at least as good security as that offered by the Internet.
However, mobile phones are increasingly being used for large-value transactions in the banking world. The consortium wants to ensure that their phones will offer encryption techniques that are as powerful as those used by the banks.
Basic requisites of the framework being offered will cover digital certificates, server storage, server communications with transport mechanisms including Wap and short-wave radio technology Bluetooth.