Samsung and Visa has teamed up to bring the power of credit/debit cards to mobile phone. Yesterday, at MWC the duo announced that they will work together to offer a financial program that will enable Samsung’s NFC enabled handsets to be used as credit/debit cards, aka mobile wallets.
From now on, Samsung’s NFC enabled devices will come with Visa’s PayWave application. This will allow customers to pay just by tapping their mobile phones on a reader. The companies will also work on making the mobile wallet secure.
“The Visa-Samsung global alliance is a first of its kind between a leading NFC handset manufacturer and payment network that is paving the way for the implementation of large-scale mobile payment programs,” the companies said in a joint statement.
Prior to this, Samsung and Visa also partnered in London Olympics to provide athletes will NFC enabled mobile payment solution. Around 140,000 payment terminals were installed across the UK for this purpose.
Thanks to: Bloomberg