Visa and Samsung team up to accelerate mobile payments globally

US: Visa and Samsung have entered into a global alliance agreement for the implementation of large scale mobile payment programs. This global alliance which believed is a first of its kind between a NFC handset manufacturer and payment network.

According the agreement, Samsung will load the applet of Visa payWave, a mobile payment applet that enables consumers to make “wave and pay” contactless payments using mobile devices onto its NFC-enabled mobile devices. Both parties also agreed to allow financial institutions that are planning to launch mobile payment programs able to use the Visa Mobile Provisioning Service to securely download payment account information to NFC-enabled Samsung devices.