Visa and Samsung Notch Mobile Payment Pact
Visa today announced that it has signed an agreement with Samsung to help speed up the deployment and availability of mobile payment systems. According to Visa, individual banking institutions that want to offer mobile payment apps can use its Visa Mobile Provisioning Service to provide the back-end tunnel though which payments can be made. At the same time, Samsung has agreed to install the Visa payWave applet onto its mobile devices. The applet can be used with Visa's software and handset-based NFC technology to piece together a complete mobile payment solution. Visa and Samsung have agreed to an ongoing mobile payment alliance, and expect to roll out devices with these features in the near future.
Visa to Put a Credit Card in Everything
Visa today announced Visa Cloud Payment Solutions, a tool that device makers can use to add mobile payments capabilities to their hardware. Visa claims the Cloud Payment Solution will reduce fraud because it replaces the standard 16-digit credit card number with a digital token.
Visa to Use Phone Location to Verify Card Purchases
Visa says it is offering banks a new smartphone-based tool that will cut down on the number of declined transactions when people use their credit cards abroad. The service, called Mobile Location Confirmation, is opt-in and uses phone location to verify the cardholder's presence at or near the point of sale.
Samsung Pay Launches In the US
Samsung today made its mobile payment service, Samsung Pay, available to U.S. consumers.
Samsung Pay Launches In September
Samsung today said its mobile payment service will launch in the U.S. next month.
Samsung to Reward Samsung Pay Users
Samsung today announced the pending launch of Samsung Rewards, a loyalty program for its Samsung Pay mobile payment service. Moving forward, people who sign up for Samsung Rewards will be able to earn points with Samsung when they use Samsung Pay to pay for goods and services.