Visa and Samsung strike a deal at MWC27 February 2013 by Kitty Dann
Visa has partnered with Samsung on NFC technology, aiming to make mobile payments simpler for consumers and financial institutions.
The two companies said that many new Samsung NFC-enabled devices would now come pre-loaded with Visa's payments software, payWave. This means that the Visa payments app could potentially come to replace a customer's Visa card.
Off-the-shelf phones will already have the secure elements embedded in them, eliminating the need to download a mobile wallet app.
Visa will also offer its Mobile Provisioning Service - to securely download payment credentials onto the payWave applet - to any financial institution intending to launch a mobile payment program.
The financial institution will then be able to load customer account data to the secure chip in the device.