Visa and Samsung agree to accelerate NFC payments

visasamsung

Big news for mobile payments space

Visa and Samsung have announced a global alliance with the aim to significantly accelerate the availability of mobile payments globally.

According to the agreement, financial institutions that are planning to launch mobile payment programs will be able to use the Visa Mobile Provisioning Service to securely download payment account information to NFC-enabled Samsung devices. In addition, Samsung has agreed to load the Visa payWave applet onto its mobile devices featuring NFC technology. Visa payWave is Visa’s mobile payment applet that enables consumers to make “wave and pay” contactless payments using mobile devices.

Mariano Dima, Executive Vice President, Visa Europe, said: “We are delighted to be continuing and elaborating on our long-standing relationship with Samsung. This announcement represents a partnership between two pioneering and innovative global entities to create an exciting and engaging service. A Samsung device equipped with the Visa contactless payment service is a powerful proposition and will allow us to make mobile payments a reality for people around the world.”

“Samsung has been a pioneer in NFC devices and is again leading the way in enabling NFC-based mobile payments. The partnership with Visa represents a step towards a global mobile payment platform.” said Dr. Won-Pyo Hong, President and Head of Media Solution Center, Samsung Electronics. “We believe that we have a strong value proposition for financial institutions that will ultimately allow consumer choice in NFC payments.”

Related reading

new york barclays
company card killer Pleo
Cheque
boom

Leave a comment


Comments RSS TrackBack 1 comment