Payments

09:57 AM
Connect Directly
RSS
E-Mail
50%
50%

Visa, Samsung to Provide Mobile Payments at 2012 Olympics

Specialized NFC-enabled Samsung phones to be handed out to athletes, sold to consumers.

Samsung and Visa today announced plans to provide contactless mobile payments technology to attendees and merchants at the London 2012 Olympic and Paralympic Games. Samsung will provide a near-field communication equipped mobile handset. Visa will provide its contactless mobile payment application, which lets the user pay by selecting "pay" and holding the phone in front of a contactless reader at the point of purchase.

In London, contactless payments are accepted at more than 60,000 locations.

Samsung and Visa will work together to provide the contactless enabled Olympics handset to Visa and Samsung sponsored athletes and to sell it to consumers. A Visa-enabled SIM card will be required for use with the device in order to make purchases at contactless retailers.

Samsung launched one of the first NFC phones in France in 2010; it also unveiled the first Android phone equipped with NFC capabilities last year.

Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology Oct. 14, 2014
Bank Systems & Technology's new Must Reads is a compendium of our best recent coverage of customer analytics. Learn what big data means for banks, meet Wells Fargo CDO Charles Thomas, find out how to connect with your Gen Y customers, and more.
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.