SAMSUNG &
VISA, TWO WORLDWIDE OLYMPIC SPONSORS, JOIN FORCES TO ENABLE MOBILE
PAYMENTS
Pioneering alliance to bring mobile payments to the
UK and around the world in the run up to and during London
2012
London, 31 March 2011 -
Samsung and Visa today announced plans to introduce the latest
innovation in payment technology as part of their sponsorships of
London 2012, enabling consumers to make mobile payments using the
Samsung Olympic and Paralympic Games mobile handset. Before and
during the Games, the innovation will transform the payment
experience in London and globally, enabling faster, more convenient
payments via mobile phone.
Samsung and Visa’s new strategic alliance is
designed to leave a lasting legacy in the market post-2012.
Samsung Electronics, the Worldwide Olympic Partner
for Wireless Communications Equipment, and Visa, the Worldwide
Olympic Partner and exclusive Payment Services sponsor are
combining their sponsorship assets and leadership in technology to
ensure that the Olympic and Paralympic Games mobile handset will be
equipped with technology that enables mobile payments, Near Field
Communications (NFC) and Visa’s contactless payment technology. To
make payments, customers simply select the Visa mobile contactless
application, select pay and hold the phone in front of a
contactless reader at the point of purchase.
Visa is working with banks and retailers worldwide
to roll-out acceptance for Visa contactless cards, as well as
mobile phones, as part of an industry wide roll-out of contactless
technology. In London there are already more than 60,000 locations
where contactless payments are accepted and contactless and
electronic card payments will be available across London during the
2012 Olympic and Paralympic Games. With the momentum to
commercialise mobile payments globally, consumers will be making
mobile contactless payments in the run up to and during the Games
in many countries around the world.
Samsung and Visa will work together to provide the
contactless enabled Olympics handset to Visa and Samsung sponsored
athletes as part of this initiative. Samsung and Visa also plan to
make the handset available for consumers to purchase through mobile
network operators and other distributors. A Visa-enabled SIM card
will be required for use with the device in order to make purchases
at contactless retailers.
“Visa, like Samsung, shares the vision of leveraging
our Olympic and Paralympic Games sponsorship to leave a lasting
legacy in the market for banks, retailers, mobile operators and
consumers. We are not only breaking new ground for Olympic
partnerships, we are committed to enabling consumers to connect
with mobile and contactless payments technology for 2012 and
beyond,” said Peter Ayliffe, CEO of Visa Europe. “We look forward
to working with financial institutions and mobile operators
alongside Samsung to make this initiative a success.”
“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,”
said Mariano Dima, Executive Vice President of Marketing and
Payment Solutions at Visa Europe.
Samsung and Visa are committed to enabling consumers
to create meaningful connections with the Olympic and Paralympic
Games and enjoy a better, smarter life through the leading mobile
payment technology. Samsung has demonstrated its leadership in
NFC-enabled phone technology, since it launched one of the first
commercial NFC phones in France in 2010. It then unveiled the
industry’s first Android phone equipped with NFC capabilities last
year, followed by the NFC-enabled bada smartphone, introduced at
the Mobile World Congress 2011.
“As a pioneer in mobile technology, Samsung is
striving for long term change in the way we use mobile payments. In
London next year, we regard the greatest show on earth as the
perfect opportunity to showcase how this technology can make a
positive difference to people’s lives - enabling them to feel
closer to the Olympic and Paralympic Games. This mobile payment
device will be available in the UK initially, and we plan to expand
the service to other countries in Europe and around the world where
contactless payment facilities are available in the near future,”
said Seokpil Kim, President & CEO of Samsung Electronics
Europe.
Gyehyun Kwon, Vice President & Head of Worldwide
Sports Marketing, Samsung Electronics added, “This marks the very
first partnership between two Worldwide Olympic Partners of the
London 2012 Olympic Games. We are delighted to be joining forces
with Visa to make the Olympic Games more accessible and convenient
for everyone. This fits extremely well with our ambition to enable
more people to participate in the Games through our smart
technology.”
Visa and Samsung will work with mobile network
operators, financial institutions and retailers around the world to
bring the convenience, security and reliability of Visa’s
contactless technology to mobile users worldwide. Currently,
Visa mobile payments are being rolled out in countries across the
globe including Australia, Canada, Czech Republic, Brazil, France,
Hong Kong, Italy, Malaysia, Poland, Singapore, Spain, Slovakia,
Switzerland, Turkey, the UK and the United States.
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 consists of eight independently
operated business units: Visual Display, Mobile Communications,
Telecommunication Systems, Digital Appliances, IT Solutions,
Digital Imaging, Semiconductor and LCD. Recognized as one of the
fastest growing global brands, Samsung Electronics is a leading
producer of digital TVs, semiconductor chips, mobile phones and
TFT-LCDs. For more information, please visit http://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 the Rio 2016 Olympic Games.
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.
About Visa Europe
In Europe, there are 427 million Visa debit, credit
and commercial cards. In the 12 months ending December 2010 those
cards were used to make purchases and cash withdrawals to the value
of €1.6 trillion. 12.5% of consumer spending at point of sale in
Europe is with a Visa card, and more than 70% of that is on Visa
debit cards.
Visa Europe is owned and operated by more than 4,000
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.
Visa enjoys unsurpassed acceptance around the world.
In addition, Visa/PLUS is one of the world’s largest global ATM
networks, offering cash access in local currency in over 200
countries.
For more information, visit http://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 http://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.