G&D Takes Full Ownership Of NFC Joint Venture

Published December 01, 2009, 2:00 a.m. EST

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Updated December 01, 2009, 1:00 a.m. EST

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Giesecke & Devrient earlier this week announced it has become the sole shareholder in Venyon Oy, the Near Field Communication joint venture the Germany-based smart card vendor established in 2006 with Finland-based mobile handset maker Nokia Corp. Terms were not disclosed. Venyon sells technology that enables consumers to manage applications such as credit cards and transit tickets accounts over mobile networks, Nokia and G&D say in a statement. Earlier this year, Venyon said it had launched an NFC-payment test with Kasikornbank, a financial institution based in Thailand (CardLine Global, 11 Feb.). The test used Nokia 6216 mobile phones.

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