NFC Competes With 2012 London Olympics With Samsung & Visa

One of the biggest sporting events to take place on the calendar is of course the 2012 London Olympics, and here at OSM we have brought you news on how and where to obtain your tickets and how the London Underground will be implementing at least 120 WiFi hot-spots across the city to help you connect with ease. But today to add to this, news in, is of sponsors of the games “Visa” and “Samsung” joining forces to bring the new and upcoming NFC technology to the games.

For anyone who may not have read our posts about what Near Field Communication or NFC technology is about, then let us refresh you. The concept that Google have already taken on board with their Nexus smartphone is a way of paying for items with a quick swipe of your handset over a special reader, this is accessed through a small chip built into the phone, and on a handful of occasions we have spoken about how this would too benefit other phones including the new iPhone 5 which is on the way.

Over at Engadget, Richard Lai has spoken about how Visa and Samsung are in talks with the city’s banks to get the go-ahead to use such a system, with the implementation of it being brought onto not only mobile phones but on cards as well, in to over 60,000 locations across the city. Visa is then planning on continuing the service after the event has finished. As Richard stated, one device used will be the Samsung Olympic and Paralympic Games mobile handset that includes a Visa-enabled SIM card which will benefit the games athletes as well as retailers.

Taken from a lengthy press release, Executive VP of Marketing and Payment Solutions at Visa Europe “Mariano Dima,” said, “Innovation is a key business driver for Visa and mobile payments are one of the main areas we’re focusing on. The Olympic and Paralympic Games enables us to accelerate our business goals and this partnership plays a large role in achieving them.”

What are your thoughts on NFC coming to London and other countries? Can you see any downsides to this new technology?