After Mastercard announced that it was jumping on board the new Google Wallet NFC payment system, Google has just confirmed that it has also signed a new licensing deal with Visa, which will no doubt boost the mobile payment adoption as we see more and more smartphones that feature the NFC technology.
If you’re unfamiliar with Google Wallet, the new app that Google announced earlier this year, takes advantage of NFC (Near Field Communication), a technology that uses low power to interact with other NFC devices. The technology is already popular at the moment in allowing users to make quick card payments without having to sign or enter a PIN number to authorise the transaction. Google announced the Nexus S earlier this year, which was amongst the first smartphones to feature NFC technology integrated into the handset.
The new agreement will allow all visa users world-wide to link their credit, debit and prepaid cards to Google Wallet, allowing users to take advantage of super quick payments in places that accept the service.
Some of you may already be aware that Visa have already offered mobile payments through payWave, which had NFC built-in to the payment cards, now though, we will see payWave integrated into Google Wallet allowing customers to take advantage of hundreds of thousands of retail payment terminals located world-wide.
Jim McCarthy, global head of product at Visa Inc, says “This agreement builds on Visa’s strategy of enabling consumers to make mobile payments with whatever device they choose using the trusted accounts they already have.”
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