FOSTER CITY, Calif. – Visa on Monday announced a deal with Samsung that will allow users of Samsung’s mobile phones to use Visa’s PayPass technology to make payments by swiping their phones at participating merchants.

Credit unions and banks that are planning to launch mobile payment programs will be able to use the Visa Mobile Provisioning Service to securely download payment account information to Near Field Communication-enabled Samsung devices, the two companies said.

In addition, Samsung has agreed to load the Visa payWave applet onto its mobile devices featuring NFC technology. Visa payWave is Visa’s mobile payment applet that enables consumers to make “wave and pay” contactless payments using mobile devices.

“Samsung devices enabled with Visa payment functionality will no doubt be a powerful product offering – especially in markets where paying with a mobile device is becoming commonplace,” said Jim McCarthy, global head of product, Visa. “However, the key to making mobile payments broadly available all over the world is to offer financial institutions a secure way to provision millions of smart phones with payment account information – and that is exactly what Visa and Samsung are ready to deliver.”


Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.