Visa and Samsung have announced that they will reveal the official mobile payments application for the London 2012 Olympic Games next week at the Mobile World Congress in Barcelona.
Based on Visa’s payWave technology, the application will enable NFC mobile phone users to tap and pay at the point of sale, as well as check their transaction history and view their up to date account balance.
Visa, which been responsible for the Olympics payments infrastructure since 2002, will install more than 3,000 contactless terminals across the Olympic and Paralympic venues in London, showcasing prepaid, contactless payments, mobile technologies, and other innovations.
“London 2012 is a unique opportunity to show the future of payments coming to life and leave a lasting legacy post-2012,” said Sandra Alzetta, head of Innovation at Visa Europe. “We are also working with a number of partners to put live mobile payment technology into consumer hands. We’ve recently announced the certification of a number of major manufacturer handsets for NFC payments, which brings mainstream commercial mobile payments a step closer to reality.”