Visa and Samsung sign joint agreement in contactless mobile payment

by bold-lichterman

While MasterCard has lifted the veil on its new mobile payment offer with MasterPass, Visa has announced a strategic partnership with South Korean Samsung.

samsung-visa-paywave-partnership

Under the terms of this agreement, certain Samsung smartphones, market leaders, should natively be equipped with the Visa PayWave contactless payment application. Based on NFC technology, it allows consumers to make “wave and pay” payments from a mobile.

At the same time, “Financial institutions planning to launch mobile payment programs will be able to use the Visa Mobile Provisioning Service to securely download mobile account information to Samsung NFC-enabled devices. ” specifies Business Wire.

In short, this partnership could well contribute greatly to the generalization of contactless mobile payment on a global scale.