From Earlier: Visa and Samsung Reveal Mobile Payments Application for the London 2012 Olympic and Paralympic Games

Visa

and Samsung today revealed the official mobile payments application of the Olympic and Paralympic Games. Samsung and Visa will debut the mobile payment application at Mobile World Congress, Barcelona, Spain from February 27th to March 1st. T The application is based on Visa's payWave technology that enables contactless payments at the Point of Sale. To make payments, customers simply hold the phone in front of a contactless reader at the point of purchase. Purchases above 15 pounds require a passcode. The application also lets customers check their transaction history and view their up to date account balance. Backed by the multi-layered security and reliability of Visa's processing platform, mobile contactless payments are protected by the same standard terms and conditions that apply to Visa cards.