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Tuesday, February 26, 2013

Visa and Samsung sign a global agreement to promote mobile NFC payments

Visa and Samsung have announced a partnership that combines Visa’s expertise in payments with Samsung’s mobile technology. It’ll enable financial institutions to download payment account information to a secure processor in NFC-enabled Samsung devices via the Visa Mobile Provisioning Service, simplifying the roll-out of mobile payments.

As well as this, Samsung is going to pre-load the Visa payWave contactless mobile payment applet onto its NFC mobile devices, which will make it easier for consumers to set up mobile payments from participating payment providers.

Mariano Dima, Executive Vice President at 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.”

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Author: The Fonecast
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