Tag: nfc mobile payments

Mobile payments partnership between Samsung and Visa won’t define the market

| March 8, 2013

Mobile Payments partnership Samsung and VisaThough these two industry giants are working together, it is still unlikely that it will be enough.

Samsung and Visa have recently announced their mobile payments partnership that will have the PayWave app automatically installed in all of the Galaxy S4 smartphones, but most experts in the industry agree that this still won’t be enough to lead to mass adoption of the service.

This channel has seen considerable struggles in getting started, but this likely won’t be enough to make the difference.

It is particularly unlikely that this extra step toward mobile payments will lead to much of a difference overnight. The partnership brings the Visa service together with the Samsung NFC technology that would allow consumers to use their smartphones to tap a reader at a point of sale in order to quickly and easily complete a purchase transaction.

The devices with the mobile payments technology and app will become available next week.

It is unlikely that the mobile payments will begin to occur with any great impact as of that point. Experts feel that while this type of move is important so that potential users will have the technology that is required to actually use a wallet over their smartphones, those owners still don’t quite have the desire to use it as of yet.

Eden Zoller, a researcher from Ovum, said that “Ovum’s consumer survey showed that usage of mobile payments is still very low for most people and this clearly needs to be change if mobile payments are to become mainstream.” That said, she also pointed out that it is still very important to add the NFC technology equipped devices to the market so that as users become interested, they will have what is needed and be familiar with it.

Similarly, Forrester analyst Clement Teo said that adding the payWave app from Visa is only one of a large number of efforts that will be needed to plunge the world into the use of mobile payments. He pointed out that there are many players, and they will all need to align for the explosion of use to actually occur.

Teo added that “The popularity of Samsung handsets is but one factor for mobile payments, but it also depends on the type of payments.”

Mobile payments partnership opens between Samsung and Visa

| February 28, 2013

Mobile Payments Samsung and Visa partnershipThe two companies have come together to help to turn smartphones in a digital form of wallet.

Samsung and Visa have just announced that they will be working together to help to speed up the worldwide adoption of mobile payments services, by combining their expertise and technology.

This new combined effort will be based on NFC technology that is embedded in certain Samsung devices.

Called the Visa Mobile Provisioning Service, is designed to allow financial institutions to take advantage of transactions using mobile payments account information that is securely downloaded through the use of NFC technology.

Furthermore, the Visa payWave mobile payments applet will be loaded onto Samsung NFC devices.

This will automatically turn smartphones into a mobile payments option for the consumers who purchase them. According to the global head of product at Visa, Jim McCarthy, in a statement, “Samsung devices enabled with Visa payment functionality will no doubt be a powerful product offering — especially in markets where paying with a mobile device is becoming commonplace.”

McCarthy also added that the heart of ensuring that mobile payments become widely available worldwide is to provide financial institutions with a secure way of offering these millions of smartphone carriers with a way to safely store and transmit their account data. He explained that “that is exactly what Visa and Samsung are ready to deliver.”

This is not the first time that Samsung and Visa have worked together on mobile payments initiatives. They previously came together in May 2012 to take part in the trial that was held during the Olympics in London, when the limited edition Galaxy S III smartphone was distributed among the athletes for use during the games. Those phones had the payWave technology built in and allowed the users to register so that they could use the device to for a digital checkout at certain retailers in the city.

The next version of the device, the Galaxy S IV, will have the Visa mobile payments technology built right into it for use with its NFC chip. It is expected to be unveiled on March 14 at a press event.