Samsung and Visa take NFC mobile payments global

» Posted on Feb 26, 2013

We are primarily interested in the application of NFC technology in industry, but it is news like this (from Mashable) that pushes NFC further into the mainstream, and into your pocket.

 

 

Your next Galaxy S smartphone might also be your Visa card. That’s because Visa and Samsung announced Monday that Visa’s NFC payment system will be built into all future Samsung smartphones.

 

This is a big win for Visa, Samsung and viability of NFC payments. Visa is one of the leaders in the mobile payments space and Samsung is the world’s biggest smartphone maker. Together, the two have a solid chance of making mobile payments a global reality.

 

Visa is going to power the secure element that runs on Samsung’s NFC devices. The secure element is what allows a payment processor (such as Visa) to talk to a bank.

 

Apps and wallets can be developed for any number of payment processors and banks (not just Visa) to work with Visa’s secure element inside Samsung phones. The benefit is that by certifying Samsung devices as able to work with Visa’s existing infrastructure, a big part of the battle for getting NFC payments sorted out is won.

 

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