Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.

Visa and Samsung work together to accelerate NFC adoption
Posted on 26-Feb-2013 09:21. | Tags Filed under: News.



Visa and Samsung today announced a global alliance that combines Visa’s expertise in payments with Samsung’s mobile device technology. The companies intention is to significantly accelerate the availability of mobile payments globally.


In order to enable financial institutions to launch large scale mobile (NFC) payment programs, Samsung will offer banks the ability to load payment account information over-the-air to a secure chip embedded in Samsung devices, using Visa’s Mobile Provisioning Service which is linked to Samsung KMS (Key Management System) – a service that creates secure data storage domains for issuers.

The Visa payWave mobile applet will be preloaded onto selected next-generation Samsung mobile devices featuring NFC technology and an embedded secure element. Off the shelf, these devices are ready to be personalized with Visa payment account information – a simple step that consumers will be able to initiate using a mobile payment application provided by their financial institution.

Visa payWave is Visa’s mobile payment applet that enables consumers to make “wave and pay” contactless payments using mobile devices.

“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. “However, the key to making mobile payments broadly available all over the world is to offer financial institutions a secure way to provision millions of smartphones with payment account information – and that is exactly what Visa and Samsung are ready to deliver.”

“Samsung has been a pioneer in NFC devices and is again leading the way in enabling NFC-based mobile payments. The partnership with Visa represents a step towards a global mobile payment platform.” said Dr. Won-Pyo Hong, President and Head of Media Solution Center, Samsung Electronics. “We believe that we have a strong value proposition for financial institutions that will ultimately allow consumer choice in NFC payments.”

Near Field Communication (NFC) technology is the global communication standard that enables mobile devices to securely communicate with a payment terminal.


comments powered by Disqus


Trending now »

Hot discussions in our forums right now:

Why does Lightbox have a suicide wish?
Created by dafman, last reply by Wade on 4-Mar-2015 21:45 (109 replies)
Pages... 6 7 8


Galaxy s6 announcement and owners thread
Created by Shoes2468, last reply by jeffnz on 5-Mar-2015 18:33 (102 replies)
Pages... 5 6 7


Considering Snap - do you rate them?
Created by gsmithnz, last reply by deadlyllama on 5-Mar-2015 22:15 (38 replies)
Pages... 2 3


Whats your USB charging solution?
Created by macuser, last reply by Journeyman on 4-Mar-2015 17:52 (37 replies)
Pages... 2 3


Privacy concerns on returning faulty microSDXC
Created by dpw, last reply by andrewbnz on 3-Mar-2015 22:41 (34 replies)
Pages... 2 3


In New Zealand: external tuner which can get EPG?
Created by kingdragonfly, last reply by freitasm on 5-Mar-2015 18:51 (16 replies)
Pages... 2


HTC One M9 (2015) Announcement and Discussion
Created by Dingbatt, last reply by Dingbatt on 3-Mar-2015 22:25 (48 replies)
Pages... 2 3 4


Tracking broadband usage on unlimited plans...
Created by andrew027, last reply by Talkiet on 2-Mar-2015 15:10 (15 replies)