A report on MobileEurope.co.uk says mass market NFC-based mobile payments are expected to hit London in time for the 2012 Olympics. Pablo Montesano, Telefonica’s Director of Mobile Financial Services, is quoted as saying "I expect there to be a lot of activity in this space in London before the Olympics, with a significant push from several players. The reality is no-one knows when this will take off, but we are moving closer than ever to the tipping point."
Telefonica is currently working with Visa and La Caixa on an NFC mobile payments scheme in the Spanish town of Sitges, near Barcelona. Visa is a worldwide sponsor of the London 2012 Games and is the only accepted card payment method for the London 2012 Olympic Games and the Paralympic Games.