Welcome!

News Feed Item

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

Visa (NYSE: V) 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. The application will be demonstrated at Visa stand (Hall 1, Stand 1B19) and Samsung stand (Hall 8, Stand 8B169). This marks the first step to realising the partnership between the two Olympic and Paralympic Games sponsors to bring mobile contactless payments to London as part of their support of the London 2012 Olympic Games.

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.

“London 2012 is a unique opportunity to show the future of payments coming to life and leave a lasting legacy post-2012. The new mobile payment application is central to this showcase,” said Sandra Alzetta, Head of Innovation at Visa Europe. “We are also working with a number of partners to put live mobile payment technology into consumer hands. We’ve recently announced the certification of a number of major manufacturer handsets for NFC payments, which brings mainstream commercial mobile payments a step closer to reality.”

“Samsung is extremely thrilled to work with Visa to launch mobile payment services for the London 2012 Olympic Games. We believe that this showcase will motivate people to experience and adopt easy and safe payment through mobile devices. As a long-time Olympic partner and a mobile technology leader, Samsung is fully committed to providing our customers with reliable and convenient mobile experiences during the Olympic Games through our partnership with Visa,” said DJ Lee, executive vice president and head of Sales and Marketing team of Samsung’s Mobile Communications Business.

As a Worldwide Sponsor of the Olympic Games for more than 25 years and the Paralympic Games since 2002, Visa implements and manages the entire payment system infrastructure and network throughout all Games’ venues. For London 2012, there will be more than 3,000 contactless terminals installed across the Olympic and Paralympic venues showcasing prepaid, contactless payments, mobile technologies, and other innovations.

About Visa Europe

As a leader in the development and implementation of payments technologies, Visa Europe is at the forefront of contactless and mobile payment innovation in Europe.

Visa Europe is owned and operated by more than 3,700 European member banks and was incorporated in July 2004. In October 2007, Visa Europe became independent of the new global Visa Inc., with an exclusive, irrevocable and perpetual licence in Europe. As a dedicated European payment system it is able to respond quickly to the specific market needs of European banks and their customers - cardholders and retailers - and to meet the European Commission’s objective to create a true internal market for payments. For more information, visit www.visaeurope.com

About Visa Inc.

Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks – VisaNet – that is capable of handling more than 20,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

About Visa’s Involvement in the Olympic and Paralympic Games

Visa is proud to be a worldwide partner of the London 2012 Olympic and Paralympic Games. Visa plays an integral role in the Games, having been a committed sponsor for 25 years. Visa Europe is also the presenting partner of Team 2012 – 1,200 British athletes who are striving to compete at the Olympic and Paralympic Games in 2012. This is the first time that such a large group of athletes has been supported in this way. At every Olympic and Paralympic Games, Visa creates and manages the entire payment system infrastructure and network throughout all Games venues. Visa has been a worldwide Olympic Games sponsor since 1986 as well as a worldwide sponsor of the Paralympic Games since 2002 and is the exclusive payment card and official payment network of the Olympic and Paralympic Games.

About NFC and contactless technology

The mobile phone is as ubiquitous for consumers as their wallet, so it is logical that the mobile phone and payments industries should come together to realise this next stage in mobile evolution. During the last twelve months, there has been significant progress towards mobile payments becoming a reality, as manufacturers standardise technology, numerous mobile payment trials are successfully completed and contactless technology starts to gain mainstream acceptance.

Visa’s offerings take advantage of a wide range of new technologies. Phones equipped with Near Field Communication (NFC) technology make it possible for the devices to initiate Visa contactless transactions. The advent of phones that support next generation high speed networks can enable near real-time transaction alerts for added levels of security, fast and convenient purchases via the mobile internet, and deliver retailer offers tailored to life style and location. These developments have inspired Visa, mobile operators, handset manufacturers, and banks to work together to incorporate payment as a mobile application.

About Samsung Electronics Co., Ltd.

Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2010 consolidated sales of US$135.8 billion. Employing approximately 190,500 people in 206 offices across 68 countries, the company operates two separate organizations to coordinate its nine independent business units: Digital Media & Communications, comprising Visual Display, Mobile Communications, Telecommunication Systems, Digital Appliances, IT Solutions, and Digital Imaging; and Device Solutions, consisting of Memory, System LSI and LCD. Recognized for its industry-leading performance across a range of economic, environmental and social criteria, Samsung Electronics was named the world’s most sustainable technology company in the 2011 Dow Jones Sustainability Index. For more information, please visit www.samsung.com.

About Samsung’s Involvement in the Olympic Games

Samsung began its Olympic Games involvement as a local sponsor of the Seoul 1988 Olympic Games. Beginning with the Nagano 1998 Olympic Winter Games, the company extended its commitment to the Olympic Movement as the Worldwide Olympic Partner in the Wireless Communications Equipment category, providing its proprietary wireless communications program, called Wireless Olympic Works (WOW), and mobile phones. These innovative mobile phone technologies provide the Olympic Family with real-time information and communications services. Samsung also supports the Olympic Torch Relay and hosts the Samsung Mobile Explorers to share the excitement of the Olympic Games with people around the world and enable everyone to participate in the Games through its smart mobile technology. Samsung’s commitment as a Worldwide Olympic Partner continues through to Rio 2016.

About Samsung’s Involvement in the Paralympic Games

Samsung is a Worldwide Partner of the IPC in the category 'Mobile Telecommunications'. The partnership was launched on the eve of the Torino 2006 Paralympic Winter Games, which Samsung supported as an Official Games Partner for the first time ever.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
"I focus on what we are calling CAST Highlight, which is our SaaS application portfolio analysis tool. It is an extremely lightweight tool that can integrate with pretty much any build process right now," explained Andrew Siegmund, Application Migration Specialist for CAST, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices t...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to clos...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...