Samsung And Visa Team Up To Create Contactless Payments Through Mobile Phones.
Samsung and Visa are believed to have released information regarding a partnership to release Mobile Phones which can be used to make Contactless Payments.
The technologies used include NFC technology, or Near Field Communications, which transfers data over a short distance of typically 4cm and Visa Contactless Payment technology.
Users will be able to make payments using only their mobile phone at Contactless Retailers.
Initially released for use in the United Kingdom, expansion for use in Europe and other countries will be expected to follow.
At this stage the pre-requisite is expected to be that the user's SIM card will need to be Visa Enabled and users will need to select a Visa Mobile Contactless Application on their Mobile Phone.
Both Samsung and Visa are sponsors of the 2012 Olympics and it is anticipated that the release of handsets and mobile contactless Payments Applications through Mobile Phones will be in time for the 2012 Olympics.