Apple facilitates Visa payment service through iPhone with NFC technology

Most credit transactions will shortly be done through mobile devices. Apple and Visa have taken their first step towards this newly found horizon.

It seems evident that, given the massive use of smart phones, large financial companies will be turning to new payment technologies to enable users the authorization of their regular consumption activities (like having a coffee at a restaurant, paying a bus ticket or buying an article at a store) from a device.

Visa, MasterCard, Bank of America, Citi Group and Google have already started trying this type of payment systems with the Near Field Communications (NFC) technology. More specifically, Visa Europe (419 million credit, debit and corporate cards) and Wireless Dynamics will be developing the contactless Mobile Visa solution for all iPhone users in Europe, as informed by Europa Press.

Also, the NFC technology, which allows wireless ID and data exchange in addition to mobile phone payments, is currently being tested on other mobile devices: Nokia plans to include this technology in its new phones and Apple could introduce it in its upcoming iPhone, same as Blackberry, while Google has already included the technology in the Nexus S, providing support for it in Android 2.3. (see more info in NFC: what is it and what is it for?).

Apple facilitates Visa payment services through iPhone