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The Olympic Flame lights up Mobile Money Payments

  • By Timothy Roberts
  • Friday, June 29, 2012

We’ve talked previously about how many technology companies in the UK are planning to use the platform of the Olympics to bring together and promote new ideas and tools. Official sponsors Visa and Samsung are no exception, they’re set to bring together two of their latest and greatest products to bring mobile money to the Olympic Games.

Visa’s payWave system in the UK is built into many credit cards, allowing contactless transactions to be made, up to the value of £15. Over 140,000 terminals can be found across the United Kingdom which are ready to accept payments. Visa has been focusing on getting payWave the areas around the Olympic sites, and even into the taxis the public will be using as they move round the capital city. PayWave is about to have its largest test with the public.

Samsung is on top of the smartphone game at the moment, and the launch of the newest Android handset, the Samsung Galaxy S3, is bringing the South Korean company a huge amount of attention. They are doing their best to market the device in as many effective ways as possible with their partners, and that includes the Olympics.

Take one Galaxy S3, brand a special version of it as the “Olympic Smartphone” and make sure it’s in the hands of every athlete, sportsman, and influencer at the games. Add in Visa’s payWave Android application, and allow that to talk to the NFC hardware in the S3, and you have an instant payment mechanism. Load it up with a bit of initial credit and everyone who gets one is going to have at least one no-risk transaction.

And if they make one transaction, so the thinking goes, they’ll make another. And another. Then tell everyone what they’ve been doing. A simple principle, but one that Samsung and Visa hope will promote mobile transactions once more to the public.