The wallet inside a mobile phone is the first step towards Personal Trusted Devices. A wallet application enables users to make convenient mobile transactions via WAP browsers. The application is capable of storing protected personal information, such as notes and virtual cards, inside the terminal. It simplifies storage and retrieval of personal information in mobile transactions making it possible to provide and use virtual cards flexibly. By enabling Internet type payments, where card information is transferred to the Internet merchant, the wallet makes it possible for wireless providers to adapt their e-business to the mobile world very easily.
The wallet application is based on existing open technologies WAP and ECML (Electronic Commerce Modeling Language). Nokia has selected the ECML format to make mobile transactions possible in a standard manner.