Mobile World Congress - Day 1 Barcelona, Spain
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Visa, Samsung, Ericsson, and Western Union all announced plans today at the Mobile World Congress in Barcelona, Spain for furthering investment in the mobile commerce market.
Visa and Samsung have plans to debut a mobile payments application that will let consumers make mobile device driven payments at the point of sale during the London 2012 Olympic Games. The mobile app is based on Visa’s payWave technology. Samsung is the leading smartphone hardware vendor. During the London 2012 Olympic Games, consumers can hold their mobile device in front of a contactless reader to make a purchase. Purchases over $24 will require a passcode. Visa and Samsung are hoping this will help consumers become more comfortable with making purchases via their mobile device.
Visa has been a key player for the past few years in encouraging m-commerce transactions. Last year, Google received a worldwide license to Visa payWave which created Google Wallet, intended to boost mobile payment adoption. Additionally, Visa partnered with shopkick to reward cardholders when they pay with their Visa credit card, which rewards users for such behaviors as simply walking into retail stores, as well as making m-payment tran
Of course, all this must be pretty ho hum to Japanese mobile users who have been spending over $400 million in m-revenues each year to buy soft drinks from vending machines, purchase fast food, and shop at Internet retailers like Amazon.