Samsung and Visa Showcase Mobile Payments at the London 2012 Olympic and Paralympic Games
LONDON & SEOUL & NEW ORLEANS, May 09, 2012 (BUSINESS WIRE) --Samsung Electronics and Visa today announced that the Samsung GALAXY S III, the latest in smartphone innovation, will be Samsung's Olympic Games Phone during the London 2012 Games.
A limited edition showcase device enabled with Visa's mobile payment application, Visa payWave, will be available for Samsung and Visa sponsored athletes and trialists, making it possible to buy merchandise with a wave of the device at thousands of retail locations throughout London.
Samsung's Olympic Games phone for the London 2012 Games, comes equipped with Near Field Communication (NFC) payment capability and is the next step in the partnership between the two global Olympic Games sponsors as they work together to drive the availability of commercial mobile payments around the world.
"Mobile payment services enabled by NFC technology are gaining momentum around the world. The Samsung GALAXY S III has been created with our human needs and capabilities in mind and is the ideal device to showcase the ease and convenience of Visa's mobile payment application at the London 2012 Olympic Games," said DJ Lee, Executive Vice President and Head of Sales and Marketing team of Samsung's Mobile Communications Business.
By the time of the Olympic Games there will be more than 140,000 contactless terminals around the UK. From the moment visitors land at Heathrow they will be immersed in a contactless payment experience with everything from taxis, to retail outlets, to the Olympic Park itself.
Sandra Alzetta, Senior Vice President of Mobile at Visa Europe says: "Mobile technology has long been a revolutionary force in our lives and NFC-enabled devices such as the Galaxy S III will fundamentally change the way we pay. The future is mobile and cash usage will only continue to decline as people use their mobile devices to manage their money, shop and pay. This summer our partnership with Samsung will showcase all the advantages of the future of payments: security, convenience, speed and flexibility being forefront among them."
"The GALAXY S III with NFC technology is part of an evolution that will entirely change the way people shop, pay and get paid all over the world," said Bill Gajda, Global Head of Mobile Products at Visa Inc. "This summer we will be demonstrating the future of payments in London - a future where most consumers will rely on mobile devices, tablets and PCs to manage their daily financial lives. Our relationship with Samsung gets us closer to that vision, with a stunning new device that is sure to turn heads at the London 2012 Games."
The showcase device is supported and enabled by London 2012 Games partner Lloyds TSB in the UK.
Mike Regnier, Personal Current Accounts & Credit Cards Director, Lloyds TSB, says: "Mobile payments are set to transform the payment process around the world, and will revolutionise the way people pay in the run up to, during, and beyond the London 2012 Games. We are delighted to be working with Visa to showcase the flexibility and convenience of this new technology at the world's biggest sporting event, and excited to see the Samsung Galaxy S III in action."
Visa payWave for mobile allows users to simply select the Visa icon on their mobile device and hold the phone to a contactless payment terminal to pay. Purchases above £20 require a passcode. The application also allows customers to check their transaction history and view their account balance.
Introducing Samsung GALAXY S III to provide a life extraordinary
Designed for natural, intuitive use, the GALAXY S III is a phone that recognizes, understands, responds, and lets you share a moment instantly and easily. An evolution of the GALAXY S brand, the GALAXY S III is a sleek, smart, and simple phone that offers advanced software and technology, with greatly enhanced usability and practicality to make life easier.
The GALAXY S III is packed with an array of intelligent, interactive new technologies that responds interactively to the human face, gestures and voice. Using its motion detection software, the phone allows the user to place a call by simply bringing the phone to their ear. Equipped with S Voice, the phone also offers the most advanced natural language voice recognition software.
Stylish, comfortable and elegant, the Samsung GALAXY S III transforms how users experience and share content. It can beam multimedia to other GALAXY S III phones with a single tap or touch; or mirror it directly to a TV or PC screen so that everyone can share in the fun. It's Pop up play feature brings video multi-tasking to a mobile phone for the first time. Whatever you are doing or sharing, however you are communicating, the GALAXY S III makes it effortless and natural.
How NFC is Transforming Mobile Phones into Payment Devices
NFC technology has been adopted by payment networks, banks, merchants, mobile device manufacturers and mobile network operators as the global standard for mobile payments.
NFC is already becoming the norm: Berg Insight reports that annual global sales of NFC-equipped handsets has increased ten-fold to 30 million devices in 2011 and is forecasted to reach 700 million units by 2016. In addition, an estimated 20 countries are expected to launch NFC services in the next 18 months, resulting in transactions approaching $50 billion worldwide by 2014, according to Juniper Research.
Samsung, the Worldwide Olympic Partner for Wireless Communications Equipment, and Visa, the Worldwide Olympic Partner and exclusive payment services sponsor, will be demonstrating this new payment innovation with the GALAXY S III in the Olympic Village and throughout London for the duration of the Olympic and Paralympic Games.
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About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2010 consolidated sales of US$135.8 billion. Employing approximately 190,500 people in 206 offices across 68 countries, the company consists of eight independently operated business units: Visual Display, Mobile Communications, Telecommunication Systems, Digital Appliances, IT Solutions, Digital Imaging, Semiconductor and LCD. Recognized as one of the fastest growing global brands, Samsung Electronics is a leading producer of digital TVs, semiconductor chips, mobile phones and TFT-LCDs. For more information, please visit www.samsung.com
About Samsung's Involvement in the Olympic Games
Samsung began its Olympic Games involvement as a local sponsor of the Seoul 1988 Olympic Games. Beginning with the Nagano 1998 Olympic Winter Games, the company extended its commitment to the Olympic Movement as the Worldwide Olympic Partner in the Wireless Communications Equipment category, providing its proprietary wireless communications program, called Wireless Olympic Works (WOW), and mobile phones. These innovative mobile phone technologies provide the Olympic Family with real-time information and communications services. Samsung also supports the Olympic Torch Relay and hosts the Samsung Mobile Explorers to share the excitement of the Olympic Games with people around the world and enable everyone to participate in the Games through its smart mobile technology. Samsung's commitment as a Worldwide Olympic Partner continues through to the Rio 2016 Olympic Games.
About Samsung's Involvement in the Paralympic Games
Samsung is a Worldwide Partner of the IPC in the category 'Mobile Telecommunications'. The partnership was launched on the eve of the Torino 2006 Paralympic Winter Games, which Samsung supported as an Official Games Partner for the first time ever.
About Visa Europe
In Europe, there are 445 million Visa debit, credit and commercial cards. In the 12 months ending September 2011 those cards were used to make purchases and cash withdrawals to the value of EUR 1.7 trillion. 14% of consumer spending at point of sale in Europe is with a Visa card, and almost 80% of that is on Visa debit cards.
Visa Europe is owned and operated by more than 3,700 European members and was incorporated in July 2004. Visa Europe is independent of global Visa Inc., with an exclusive, irrevocable and perpetual licence in Europe, while both companies operate to ensure global interoperability. As a dedicated European payment system Visa Europe is able to respond quickly to the specific market needs of European banks and their customers - cardholders and retailers - and to meet the European Commission's objective to create a true internal market for payments.
Visa enjoys unsurpassed acceptance around the world. In addition, Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in over 200 countries.
For more information, visit www.visaeurope.com
About Visa Inc.
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks--VisaNet--that is capable of handling more than 20,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com
About Visa's Involvement in the Olympic and Paralympic Games
Visa is proud to be a Worldwide Partner of the London 2012 Olympic and Paralympic Games. Visa plays an integral role in the Games, having been a committed sponsor for 25 years. Visa is supporting more than 60 athletes from more than 30 countries through the Team Visa program.
Visa Europe is also the presenting partner of Team 2012 - 1,200 British athletes who are striving to compete at the Olympic and Paralympic Games in 2012. This is the first time that such a large group of athletes has been supported in this way. At every Olympic and Paralympic Games, Visa implements and manages the payment system infrastructure and network throughout all Olympic Games venues. Visa has been a worldwide Olympic Games sponsor since 1986 as well as a worldwide sponsor of the Paralympic Games since 2002 and is the exclusive payment card and official payment network of the Olympic and Paralympic Games.