Visa and Samsung Sign Global Alliance Agreement to Accelerate Mobile (NFC) Payments
Financial institutions will be offered a secure service to download payment account information to Samsung’s mobile devices.
According to the agreement, financial institutions that are planning to
launch mobile payment programs will be able to use the Visa Mobile
Provisioning Service1 to securely download payment account
information to NFC-enabled
“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,” said
“Samsung has been a pioneer in NFC devices and is again leading the way
in enabling NFC-based mobile payments. The partnership with Visa
represents a step towards a global mobile payment platform,” said Dr.
Near Field Communication (NFC) technology is the global communication
standard that enables mobile devices to securely communicate with a
Global Strategic Alliance
Samsunghave agreed to work together to enable the next generation of Samsungmobile devices with Visa payment technology, and to partner with financial institutions to accelerate the availability of mobile payment solutions globally.
Samsungto Connect to Visa’s Mobile Provisioning Service
In order to enable financial institutions to launch large scale mobile (NFC) payment programs,
Samsungwill offer banks the ability to load payment account information over-the-air to a secure chip embedded in Samsungdevices, using Visa’s Mobile Provisioning Service3 which is linked to Samsung KMS (Key Management System) – a service that creates secure data storage domains for issuers.
Samsung Awarded Global Visa payWave License
The Visa payWave mobile applet will be preloaded onto selected next-generation
Samsungmobile devices featuring NFC technology and an embedded secure element. Off the shelf, these devices are ready to be personalized with Visa payment account information – a simple step that consumers will be able to initiate using a mobile payment application provided by their financial institution.
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 electronic payments. We operate one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 24,000 transaction messages a second, with fraud protection for consumers and assured 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 corporate.visa.com.
About Visa Europe
1 Visa’s Mobile Provisioning Services are not available in all territories
3 Visa’s Mobile Provisioning Services are not available in all territories