Visa and Samsung team up to provide a solution to financial institutions in the payments through smartphones.
It is the first international agreement of its kind between a manufacturer of mobile devices and a provider of solutions applied to electronic payments.
It takes the form of new chips embedded in mobile phones and Samsung preloaded with the application of Visa payWave. Credit and financial institutions can enter the account information for payment by remote control using the mobile phone service of Visa those selected NFC devices, typically equipped with wireless connectivity.
In January of last year Visa approved models of Samsung, LG and BlackBerry use their own technology payWave. Since then I have started testing on electronic payments within the phone company Optus and Vodafone.
Financial institutions what they think? Antipodes trials are reality. Banks Westpac and ANZ have verified mobile payments using smartphones Galaxy S III with a chip inserted SIM card. Commonwealth Bank has completely missed the test considering them too expensive. Westpac conducted its own tests with MasterCard, Visa's main competitor.
See Pictures and Read more : Mobile payments and secure: the proposal to Visa and Samsung
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