Samsung and Visa will bring NFC-based payments to London

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Samsung Visa announcement

It seems like every day we’re hearing more and more about near field communications (NFC) technology as a way to make mobile payments. Amazon, Google and Apple are all believed to be developing hardware and software for this very purpose. Samsung and Visa have officially partnered with each other to bring NFC payments to London in 2012. Their partnership will produce a new Olympic and Paralympic Games phone. The phone will use NFC and Visa’s technology in conjunction with an app installed on the device. All users will have to do is select a payment option in the app and place their phone in front of a scanner at checkout.

In order to spread the word of the new Olympic phone, Samsung and Visa will use Olympic athletes (that they sponsor) to promote the device. The phone will also be sold through unannounced carriers. The device will use a special Visa SIM card to make contactless payments possible.

Any information about the Olympic phone hasn’t been revealed yet.

Visa is in talks with companies from around the world about accepting its NFC payments with cards and phones. The fact that Visa is using SIM cards means it’ll be working with GSM carriers. GSM devices are far more popular than CDMA devices.

Both Samsung and Visa are commercial sponsors of the 2012 Olympic Games in London.

Via [Business Wire]

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