In an attempt to expand its mobile commerce (mCommerce)
) inked a deal with global electronic device leader - Samsung
Electronics Co. Ltd. The parties will jointly steadfast mobile
payments by functioning on near field communication (NFC)
Accordingly, Samsung's NFC-enabled mobile devices will now
have a chip carrying the customer's bank account information.
This information will be accessed through Visa Mobile
Additionally, Samsung will have Visa's payWave software
application installed in all of its NFC-enabled smart mobile
devices. Hence, the collaboration will result in enhanced
security and faster checkout, with the convenience of a simple
wave of the mobile device in front of a payment terminal. We
believe this alliance will not only increase the payment
efficiencies but also maintain the security, thereby allowing
consumers the access to an authentic transaction and
hardware-based display protection.
Further, this marks the first alliance of an electronic
payment service provider with a mobile device manufacturer. Last
year, Visa had teamed up multinational semiconductor chip maker -
(INTC) to blend its proficiencies in payment processing and
account holder authentication with the latter's high-grade
Penetration into mCommerce
Separately, Visa announced its collaboration with Paris-based
Ingenico SA's ROAM - a leading mCommerce provider - to reach out
to the merchants and retailers with easy and secure payment
initiatives from various mobile devices.
Together, Visa and ROAM aim to initiate cost-effective mobile
payment services for merchants and retailers. For this, ROAM has
also joined Visa Ready Partner Program to roll out its mobile
point-of-sale hardware exteriors with Visa's payment solutions.
Subsequently, ROAM has offered to develop and provide white label
mobile acceptance devices for all EMV payments to Visa
Overall, the alliances elucidate the rapid progression in the
NFC and mCommerce spaces. Hence, the card giants are promptly
initiating various digital payment services to tap this
opportunity. Support is also being drawn from retailers, banks,
mobile device manufacturers and mobile service providers in order
to offer a complete secured electronic payment terminal to
Visa carries a Zacks Rank #2 (Buy). Other outperformers of the
electronic payment service industry with a similar Zacks Rank
Total System Services Inc.
Global Payments Inc.
FISERV INC (FISV): Free Stock Analysis Report
GLOBAL PAYMENTS (GPN): Free Stock Analysis
TOTAL SYS SVC (TSS): Free Stock Analysis
VISA INC-A (V): Free Stock Analysis Report
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