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.

Related articles:

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Visa launches program to accelerate mobile payments

Visa targets developing countries with new mobile money platform

Vodafone, Visa in global m-payment strategy