Visa to launch mobile phone payments

Samsung and Visa announced plans to introduce mobile payments using the Samsung Olympic and Paralympic Games mobile handset. Before and during the London Olympic Games, the innovation will enable payments via mobile phone.

To make payments, customers simply select the Visa mobile contactless application, select pay and hold the phone in front of a contactless reader at the point of purchase.

Visa is working with banks and retailers worldwide to roll-out acceptance for Visa contactless cards, as well as mobile phones, as part of an industry wide roll-out of contactless technology.

With the momentum to commercialise mobile payments globally, consumers will be making mobile contactless payments in the run up to and during the Games in many countries around the world.

A Visa enabled SIM card will be required for use with the device in order to make purchases at contactless retailers.

Source: Visa