Visa Europe has certified NFC-enabled smartphones from Samsung, LG Electronics and RIM for use as payment devices using the Visa payWave app at the point of sale.
The new devices certified by Visa have the Visa payWave app on a SIM card and include Near Field Communication technology, which allows users to securely pay for goods by waving their phone over an in store terminal.
This will allow mobile device manufacturers, mobile operators and retailers to partner with financial institutions to offer Visa mobile payments to consumer around the world.
“The players are now in place for mobile payments to become a reality,” said Sandra Alzetta, head of Mobile Business Unit and Innovation, Strategy at Visa Europe.
“We are working with our member banks, mobile network operators and key handset partners to ensure that future payment technologies are as easy, intuitive and secure as card-based transactions are today.
“Today’s announcement plays a significant role in getting those new technologies into the hands of the consumer. It is a very exciting time for us all,” she said.
Testing payment security
Visa said it is aiming to ensure that mobile payment devices are in line with current technology and security standards which can easily integrate with the payments ecosystem.
Its payWave app is compatible with current NFC payment terminals installed at retail outlets across the globe, letting Visa account holders pay for goods with their mobile phone.
It has a compliance testing process for both the mobile devices and secure elements which host the payWave app, which includes technical and usability testing for Visa’s mobile payment functionality. This aims to ensure that mobile payments are compatible with the standard for chip-enabled payments and establishes a single range for all NFC Visa payment devices.
Source: Silicon Republic