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27 February 2013
| Laura Hedges
Samsung has announced a partnership with card provider, Visa, to create a faster and more accessible mobile payment system for smartphone users.
The announcement was made at
Mobile World Congress in Barcelona this week and is claimed to
be the first of its kind between a leading near field
communications (NFC) handset manufacturer and payment
To address the slow take-off of "tap-and-pay" technology, the
agreement states that Samsung will preload Visa’s
pay Wave application on to its NFC-enabled handset.
This is expected to make it simpler and quicker for consumers
and financial institutions to connect their bank accounts to
their new handsets.
"The partnership with Visa represents a step towards a global
mobile payment platform," said Won-Pyo Hong, head of
Samsung’s Media Solution Centre.
"We believe that we have a strong value proposition for
financial institutions that will ultimately allow consumer
choice in NFC payments."
The deal follows
Samsung’s deal with European operator Three UK for
LTE services in August last year.