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:

The President Of The USA: Donald Trump
Created by TimA, last reply by Fred99 on 26-Feb-2017 20:52 (3342 replies)
Pages... 221 222 223


"Parents' lawsuit claims FaceTime caused daughter's death"
Created by kingdragonfly, last reply by richms on 23-Feb-2017 11:03 (23 replies)
Pages... 2


Vodafone / SKY merger
Created by wingbat45, last reply by tdgeek on 25-Feb-2017 07:34 (136 replies)
Pages... 8 9 10


What is this green cabinet for?
Created by DarthKermit, last reply by MadEngineer on 24-Feb-2017 21:13 (20 replies)
Pages... 2


SureSignal missed calls
Created by hairy1, last reply by froob on 23-Feb-2017 20:23 (19 replies)
Pages... 2


Best way to network my computers
Created by Rikkitic, last reply by Rikkitic on 24-Feb-2017 11:24 (75 replies)
Pages... 3 4 5


I paid the wrong Bank Account, what can I do - advice wanted?
Created by harlansmart, last reply by JayADee on 26-Feb-2017 17:26 (49 replies)
Pages... 2 3 4


Did Chorus Increase its Layer 2 speed ?
Created by Mikek, last reply by darylblake on 24-Feb-2017 22:46 (14 replies)