Visa and Samsung Sign Global Alliance Agreement to Accelerate Mobile (NFC) Payments (Buy Stuff With Your Phone)
by on February 25, 2013 at 3:08 pm
Sections: Communications, Lifestyle, Web, Web Apps
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The technology is being rumored to first hit the streets with the Samsung Galaxy S IV, out in just a few weeks.
“Samsung devices enabled with Visa payment functionality will no doubt be a powerful product offering — especially in markets where paying with a mobile device is becoming commonplace,” said Jim McCarthy, global head of product, Visa Inc.
NFC or Near Field Communication, which is said to be one-day featured in all smartphones (ABI Research projects 1.95 billion NFC-enabled devices by 2017,) will allow a user’s equipped cellphone to securely communicate with a payment terminal and competing a monetary transaction wirelessly.
Visa is currently demonstrating their and Samsung’s payWave application.
<Source: Press Release>
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