Visa and Samsung have revealed the official mobile payment application for the London 2012 Olympic and Paralympic Games. It will make its public debut next week at Mobile World Congress in Barcelona.

The payment application uses Visa’s payWave NFC-based contactless payment technology.

In today’s podcast we’re talking about Netflix arriving in the UK, Yahoo! picking its new CEO from PayPal, China Telecom setting up an MVNO, data usage growing and mobile payments taking yet another step forward.

You can listen to this week’s edition of The Fonecast on our website audio player, via iTunes, by subscribing to our RSS feed or by downloading the MP3.

Listen to the latest mobile industry news headlines for the UK, covering everything from Netflix and China Mobile to the innovation that's been shown off at CES. As usual, Iain, James and Mark offer an opinion on all the news stories that matter.

Visa Inc. and Visa Europe have certified a number of NFC-enabled smartphones from Samsung, LG and Research In Motion for use with the Visa payWave contactless point of sale application. The Samsung Galaxy SII, LG Optimus NET NFC, BlackBerry Bold 9900, BlackBerry Bold 9790, BlackBerry Curve 9360 and BlackBerry Curve 9380 have all been added to the list of Visa-compliant payment products.

This means financial institutions can work with mobile operators to offer consumers one of these mobile devices with Visa mobile payment functionality.

We're squeezing plenty of news into this week's podcast, starting with a warning about so-called 'unlimited' data tariffs and ending with a new online gallery that hopes to put art into smartphones.