Samsung is launching a limited edition Olympic Games phone that will feature Visa's mobile payments application.
The device, a showcase Galaxy S III, will not go on widespread sale but will be available for athletes and trialists sponsored by Samsung and Visa.
The manufacturer said the limited edition device will come with the Visa payWave app preloaded, which will be compatible with more than 140,000 contactless terminals by the time of the Olympic Games. Consumers select the Visa icon on their device and hold it in front of a terminal to pay. Purchases of more than £20 require a password. Samsung said it will be showcasing the service in the Olympic village and throughout London during this summer's Games.
DJ Lee, executive VP and head of sales and marketing at Samsung's mobile communications business, said: 'Mobile payment services enabled by NFC technology are gaining momentum around the world. The Samsung Galaxy S III has been created with our human needs and capabilities in mind and is the ideal device to showcase the ease and convenience of Visa’s mobile payment application at the London 2012 Olympic Games.'
Sandra Alzetta, senior VP of mobile at Visa Europe, said: 'Mobile technology has long been a revolutionary force in our lives and NFC-enabled devices such as the Galaxy S III will fundamentally change the way we pay. The future is mobile and cash usage will only continue to decline as people use their mobile devices to manage their money, shop and pay. This summer our partnership with Samsung will showcase all the advantages of the future of payments: security, convenience, speed and flexibility being forefront among them.'
Editor: Graeme Neill