It is another 154 days to go until the
Olympics, but Visa and Samsung are starting early: The two
companies are launching a mobile payments application for the
event.

Visa and Samsung are going to launch app at
the Mobile World Congress, which will kick off in Barcelona, Spain
on 27 February.

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In a joint statement, Visa and Samsung said
the debut of this project is the first step of their partnership
“to bring mobile contactless payments to London” as sponsors of the
Olympics.

The app works with Visa’s contactless
technology payWave.Visa and Samsung wallet

According to Visa, the app allows customers
to trace back their transaction records and check up-to-date
balances.

Visa will manage the whole payment systems
infrastructure during the Games. The company said there will be
more than 3000 contactless terminals across the venues.

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 “London 2012 is a unique opportunity
to show the future of payments coming to life,” said Sandra
Alzetta, Head of Innovation at Visa Europe.