10/1/2010 1:57:08 PM
IT Comms news: 2012 Olympics Mobile Wallets Coming Soon!
Contactless payments have struggled to take off in Europe,
despite success in Japan, but Visa is saying the 2012 Olympics
could be a watershed moment for it's uptake.
The devices to enable this won't go to mass market anytime soon,
but they are on their way. NFC (Near Field Communications)
technology makes this possible and by 2015 consumers will be able
to use it for both small and high value transactions.
Visa are trialling it in Spain with La Caixa bank and mobile
operator Mobistar. 1,500 triallists have each been given a
free Samsung Star Touch pre-loaded with a link to their bank
account. These devices can be used by simply holding it close to a
compatible POS terminal - the device has an NFC antenna and the
owners virtual Visa card stored securely on the phone's SIM.
Payments of less than €20 are made simply by tapping the device
against a POS reader, without the need for the consumer to
enter a PIN. Larger transactions require a PIN to be entered by the
user after they have swiped their phone on the reader. If your
phone battery is dead, don't worry, the technology works without
the phone needing to be on, or even charged.
Feedback to date shows that 70% were highly satisfied with the
mobile wallet experience. When asked whether they would use it in
the future, 66% said they definitely would do so, 25% said they
probably would, and 8% said perhaps. Not a single person trialling
it said the would 'probably not' or 'definitely not' use it in the
future.
Visa sees the 2012 Olympics as an event to expedite the launch
of mobile wallets. New technology is being installed and it is the
perfect opportunity to push this inevitable technology.
Damian Hicklin
IT
& Communications Divisional Manager
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ARM