The smartphones are equipped with Visa's payWave technology, which can enable users to get things by waving their Galaxy S III at the register throughout checkout at collaborating London retailers.
"Mobile payment services enabled by NFC technology are gaining momentum round the world," DJ Lee, government vice chairman of Samsung's mobile communications business, said during a statement. "The Samsung Galaxy S III has been created with our human desires and capabilities in mind, and is that the ideal device to showcase the convenience and convenience of Visa's mobile payment application at the London 2012 Olympic Games."
Visa is functioning with Lloyds TSB within the U.K. to enable the NFC payments. To pay, users can choose the Visa icon on their Galaxy S III and hold the phone up to a contactless payment terminal. Purchases on top of £20 need a password, Samsung said, whereas transactions and account balances is checked inside the app.
Samsung unveiled the Galaxy S III throughout a London press event earlier this month. The 4.8-inch, Android 4.0-based smartphone can create its debut in Europe on May 29 and a 4G LTE-optimized version can hit the U.S. market throughout the summer. For more, verify Samsung Galaxy S III vs. HTC One X: Specs Compared and also the slideshow below.
Visa's payWave has been around for years. Late last month, Visa said it'll launch its V.me digital wallet this fall within the U.K., France, and Spain, with the U.K. launched assisted by payments processor MobilePay.
There are variety of mobile payment announcements in recent weeks, despite the actual fact that the technology has been slow to realize support from the common client. MasterCard on Monday, for instance, announced its digital wallet program, PayPass Wallet, which can let its cardholders and partners securely pay with phones or on-line with only one click. Earlier nowadays, PayPal and Softbank conjointly teamed up for a digital payment service in Japan.
An April report from the Pew analysis Center found that 65% of consultants suppose the majority can absolutely adopt mobile payments by 2020, nearly eliminating the necessity for money or credit cards.
