On Thursday Samsung and Visa announced a new partnership under which the two firms will provide an NFC mobile payment solution before, during, and after the London 2012 Olympics. The two companies will release an Olympics and Paralympics Games mobile handset in London that’s equipped with mobile NFC technology, Visa’s payment application, and a special SIM card. Here’s how it will work: When you’re ready to make a purchase, you’ll just have to open the Visa application on your phone and then hold it in front of a special contactless reader. There are over 60,000 contactless readers already in London, and Visa says it’s continuing to work with banks and retailers to increase its NFC foundation.
The NFC-enabled phone, with its Visa SIM card, will first be available to Samsung and Visa sponsored athletes, and it will also be available to consumers through mobile operators. It’s unclear what the phone model is, or how much it will cost. “This mobile payment device will be available in the UK initially, and we plan to expand the service to other countries in Europe and around the world where contactless payment facilities are available in the near future,” said Seokpil Kim, President & CEO of Samsung Electronics Europe. Visa is currently rolling out its NFC mobile payment program in Australia, Canada, Czech Republic, Brazil, France, Hong Kong, Italy, Malaysia, Poland, Singapore, Spain, Slovakia, Switzerland, Turkey, the UK and the United States
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