Fonebank –Mobile phone recycling company
Fonebanker – Get Cash for selling mobile phone
Cart: 0 item(s) Your Account
News Categories
News Archive
Samsung, Visa Roll out Mobile Payment Program at 2012 Olympics
(08/06/2011 09:37:22)

London 2012 is the greatest show on Earth and allows the world’s best athletes to show us what they can do in front of a mass world audience. Likewise, the host city, London, will have the opportunity to test out new technological advances and introduce them to an international crowd. Samsung and VISA are two companies which have teamed up to bring the 2012 crowd a revolutionary new method of payment.

The program which will be rolled out to coincide with the all the running and jumping, has got people hopping with excitement and may very well end up kick starting the greatest change in the way we payment transactions are carried out.

Samsung will manufacture these new mobile phones which will be embedded with near field communication technology. NFC payments will be possible through a VISA-enabled SIM card. Users will be able to pay for items simply by scanning their phone in front of a payment sensor. It is hoped that the introduction of this technology in time for the games will leave an NFC legacy in London and NFC will become the accepted norm. If enough retailers sign up to the initiative, payment through your mobile phone could soon become as day-to-day as tapping in your PIN or whipping out your credit card.

Samsung and VISA have announced plans to give the NFC-enabled phones to some of the top athletes taking part in the games. The inevitable promotional campaign of seeing a certain Usain Bolt whizzing past a payment point will no doubt be pumped out of every television with mind-numbing regularity for the duration of the Games.

Selling a phone with NFC capability has been something that the major phone manufacturers have planning for some time now, until now it has always been very much on the back-burner due to various different stumbling blocks, the big one being a lack of interest from important major retailers and also the initial outlay needed for introducing such a scheme.

However, this time around, NFC looks set to really take off, with Google and Apple sticking their oar in with NFC schemes of their own, and major retailers such as Wal-Mart sniffing around the new technology.

<< go back to news stories
Need Help? Call on 020 7404 6440 or email
Leave Feedback 
Follow Us : 
Company Mobile Phones
Handset Terms and Conditions
Free Collection for 5 Mobiles+
How To Post
Data Removal
About Us
Buy Mobile Phones
iCloud Activation Lock Info
Full Terms and Conditions
Competition Terms & Conditions
Privacy Policy


follow us on facebook follow us on twitter find us on youtube
For all questions about orders or general enquiries please contact:


+44 (0)20 7404 6440

Office Hours:
9.30am-5.30pm GMT
countries we operate in
COOKIES: Our site uses cookies. To find out what cookies we use and why we use them click here. If you carry on using our site we will assume you consent to us using cookies in this way.