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Could Tap-And-Pay At Olympics Carry The Torch For Mobile Payments?

Posted on Mar 02, 2012

Visitors to the 2012 Olympics in London will be able to stock up on souvenirs without reaching for their wallet.

Visa and Samsung are partnering to offer the official mobile payments application of the games. The app will allow NFC mobile phone users to tap-and-pay with Visa's payWave technology.

Visa plans to install more than 3,000 contactless terminals across the Olympic and Paralympic venues in London, according to an article at NFC News.

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.

The company recently announced the certification of several major manufacturer handsets for NFC payments to make mainstream commercial mobile payments a more realistic option.

Visa, which has been responsible for the Olympics payments infrastructure since 2002, will showcase prepaid, contactless payments, mobile technologies and other innovations this summer in London.

With all eyes around the world focused on the Games, this could be the defining moment in mobile payments that the industry has been looking for.

Source: NFC News, February 2012