Samsung, the Korean technology giant, have teamed up with Visa for their upcoming Galaxy S4 smartphone to provide users with a flagship product for Visa's PayWave program.
Utilising NFC technology, the partnership should ensure that Visa's technology is widely adopted by consumers as they clamber over one another to pick up the successor to the most successful Android mobile phone the market has seen.
"We are delighted to be continuing and elaborating on our long-standing relationship with Samsung," said Visa Europe's EVP Mariano Dima.
"This announcement represents a partnership between two pioneering and innovative global entities to create an exciting and engaging service. A Samsung device equipped with the Visa contactless payment service is a powerful proposition and will allow us to make mobile payments a reality for people around the world."
Samsung Electronics’ president and head of media solution center Dr. Won-Pyo Hong added: "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.
"We believe that we have a strong value proposition for financial institutions that will ultimately allow consumer choice in NFC payments.”
This partnership represents the start of the new Visa Ready Partner Program that was announced at Mobile World Congress 2013. Its purpose is to provide a speedy way to approve and licence Visa-endorsed payment systems on different devices – including smartphones.
Do you think this is a smart move for Visa, especially after MasterCard’s MasterPass system?
Can a partnership with Samsung really help create wide reaching adoption of NFC payments?
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