Group Actions
Engagement
  • Author Author: Joshua_Evans
  • Date Created: Date Created
  • Views 504 views
  • Likes 0 likes
  • Comments 1 comment
Related
Recommended

London 2012 to herald breakthrough for contactless payment

Joshua_Evans
2012 will be a landmark year for contactless payment, according to a senior technologist at Visa, who said that the London Olympics will double as a showcase for the technology. Colin Grannell, Executive Vice-President of Partnership Marketing at Visa, recently provided information on how and why he expected the technology's usage will expand over the next few months.
In particular, he said that the increasingly common technology will be deployed around the Olympic venues to enable contactless payments to be made. Mr Grannell explained that Visa will be placing around 3,000 of the latest payment devices enabling contactless transactions around various Olympic venues. "We're using London 2012 to showcase the technology and demonstrate how quickly we can process payments," he added.
Contactless technology will become more commonplace in 2012, he said, citing Coca-Cola and McDonald's as two of the firms that have been quick to recognise the potential of the technology. "In addition," he explained, "all London buses will take contactless payment in time for the Olympics, with the London Underground accepting the technology later in the year."
But while the fast food giant introduced contactless payment technology into its UK restaurants in May 2011, McDonald's conceded that it expected the service to be used only rarely immediately after the launch.
Mr Grannell, meanwhile, claimed that the London 2012 Olympics will be the first showcase of near-field communications payments with smartphones. "Samsung has the official Olympics payment NFC app, which is processed by Visa. Other suppliers can use an alterntive app, it just won't be Olympics branded," he commented.
He has also tried to calm the fears of consumers on the issue of security, saying that Visa has already taken the necessary measures.  The firm, he said, takes fraud extremely seriously as a matter of course, "so we're not expecting to do anything differently for the Games".
Meanwhile, organisers of the 2012 Games are expected to announce that competitors and spectators will be afforded access to free wi-fi provided by BT, the UK-based telecommunications giant. BT is one of the leading sponsors and has been looking at providing the service for months.

2012 will be a landmark year for contactless payment, according to a senior technologist at Visa, who said that the London Olympics will double as a showcase for the technology. Colin Grannell, Executive Vice-President of Partnership Marketing at Visa, recently provided information on how and why he expected the technology's usage will expand over the next few months.


In particular, he said that the increasingly common technology will be deployed around the Olympic venues to enable contactless payments to be made. Mr Grannell explained that Visa will be placing around 3,000 of the latest payment devices enabling contactless transactions around various Olympic venues. "We're using London 2012 to showcase the technology and demonstrate how quickly we can process payments," he added.



Contactless technology will become more commonplace in 2012, he said, citing Coca-Cola and McDonald's as two of the firms that have been quick to recognise the potential of the technology. "In addition," he explained, "all London buses will take contactless payment in time for the Olympics, with the London Underground accepting the technology later in the year."


But while the fast food giant introduced contactless payment technology into its UK restaurants in May 2011, McDonald's conceded that it expected the service to be used only rarely immediately after the launch.


Mr Grannell, meanwhile, claimed that the London 2012 Olympics will be the first showcase of near-field communications payments with smartphones. "Samsung has the official Olympics payment NFC app, which is processed by Visa. Other suppliers can use an alterntive app, it just won't be Olympics branded," he commented.


He has also tried to calm the fears of consumers on the issue of security, saying that Visa has already taken the necessary measures.  The firm, he said, takes fraud extremely seriously as a matter of course, "so we're not expecting to do anything differently for the Games".


Meanwhile, organisers of the 2012 Games are expected to announce that competitors and spectators will be afforded access to free wi-fi provided by BT, the UK-based telecommunications giant. BT is one of the leading sponsors and has been looking at providing the service for months.