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Samsung, Visa to Offer NFC Payments at 2012 Olympics

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Near Field Communications NFC logoLONDON, UKSamsung and Visa are teaming up to try and launch a mobile payment system using Near-Field Communications (NFC). What better launching pad then one of the world’s biggest events, the 2012 Olympic games in London.

The technology, which is similar to NFC, would allow customers to wave their phones in front of a reader at retailers to pay for items. It’s a great piece of technology since smartphone users almost always have their devices with them and these handsets are all-in-one devices so why not replace yet another item in your pocket.

The technology does have some hurdles to overcome however. For instance retailers will have to come on board and actually buy readers for the devices in order to support them. Consumers will also have to purchase special devices that support a Visa compatible SIM card.  If Visa wants this technology to really catch on, it might be a worthwhile investment to provide this readers to retailers at no charge.

The NFC devices are expected to be given to athletes at the games so we can expect to see these devices and readers throughout the Olympics.

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By , Chicago, IL, USA on Apr 4th, 2011 GMT +2

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