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February 27, 2013updated 04 Apr 2017 4:12pm

Visa and Samsung strike a deal at MWC

Visa has partnered with Samsung on NFC technology, aiming to make mobile payments simpler for consumers and financial institutions.

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.

Related articles:

Visa launches program to accelerate mobile payments

Visa targets developing countries with new mobile money platform

Vodafone, Visa in global m-payment strategy

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