Visa inked deal with Samsung for introducing NFC mobile payment

Glenn

Visa has introduced its new partner for NFC initiative and has pushed into mobile payment system, worldwide. Recently, it has announced two new programs which comes along with set of APIs for the third party integration and allow them to seamlessly use their giant card payment services on their own. For Visa Ready Program, the first mobile payment partner is dongle maker- Ingenico owned by ROAM and its first global NFC partner is Samsung.
This new deal with Samsung is aimed to make NFC based mobile payments more common and accessible to more people. Samsung in this regards, will embed Visa’s NFC software in their tablets and smartphones, shared by Bill Gajda- Global head of mobile products in Visa.The first device that will be featuring this service will be Samsung Galaxy S IV and it will be making place in March in New York. The deal has also projected that in next 12 months, Samsung will have to manufacture and sale 100 million NFC enabled devices to the world. Gajda explained that, “They are needed to initiate their project with largest device manufacture in the world.”

ABI projects has identified that there will be more than 1.95 billion NFC devices sold by 2017.

Gajda further added that they are working with Sony Mobile, Samsung and other top nine out of 10 handset manufacturers to introduce their NFC based devices. he said that they have approved almost 55 devices and 55 are waiting in line.

The difference highlighted in the new NFC integration is underlying that banks and other mobile payment service providers will download their information about payment accounts via sets of APIs issued by Visa’s new mobile provisioning service. Top of this story is, Samsung will preload PayWave applet of Visa on NFC enabled mobile devices. It will be less frictionless, yet a secure way to use Samsung handset.

Gajda has made no comment on partnering Apple in incorporating NFC in to their iPhones. However industry has felt that Apple is going on board and it is quite important to have NFC feature on their sets.

Also the current deal is not exclusive at any side. This means that Samsung is free to work with other companies like MasterCard for launching their mobile payments by employing different technology for integrating with device. Similarly, Visa is free to ink deals with other manufacturers.

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