Prague-based company Logomotion has launched a microSD card that can be used to add NFC mobile payments capabilities to standard mobile phones using two secure elements.
The microSD device is the LGM Card and it has been designed to work with a wide range of mobile phones. According to Logomotion this is, “including those where the SD slots are in seemingly problematic locations, such as under the device’s battery or under a protective metal outer cover”.
The company adds that there are new revenue opportunities for banks because of the patent-pending dual secure element architecture of the LGM Card.
“The issuing bank personalizes one payment chip using normal card account data of a customer,” says Dave Riffelmacher, CEO of Logomotion. “The second payment chip is pre-personalized with a virtual POS terminal which enables secure, profitable micro payments with smaller merchants and at mobile content internet shops using the customer’s account data.”
The LGM Card is available in small sample quantities now, before there is mass market production of the NFC-enabled microSD card which is due to begin during the first quarter of 2013. “In mass market quantities, the price of LGM Card will not be significantly higher than the price of normal memory cards with comparable memory capacity,” says Riffelmacher.