Visa Europe starts trials for iPhone NFC payment solution

by Shalu Pillai

Our friends at Computerworld have reported that, Visa has begun trials of an iPhone-based mobile payment system in Europe.The trials, which started today, will require a on-device software to be installed on testers’ iPhones, as well as a hardware accessory that contains an NFC chip. It will require retailers to install a hardware terminal capable of processing the mobile payments, while Apple is expected to add native NFC capabilities to its next-generation iPhone. This means seamless transactions as users would not have to attach any additional device to their phones in order to pay for goods and services, especially with low value transactions. We don’t know ‘which’ next-generation smartphone Apple is talking about, or if the company plans to restrict third-party access to NFC capabilities. If so, third-party solutions will require a hardware accessory to function.

A survey conducted by Visa in Europe found that 87 per cent of iPhone users would be willing to connect a hardware accessory to their phones in order to enable mobile payments. The iWallet concept might turn into reality, after all.

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