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Mobile Payments

Visa Europe, Komerční banka, Telefónica and Samsung to launch NFC m-payments in the Czech Republic

Monday 27 August 2012 | 02:50 PM CET

Visa Europe has teamed up with Czech financial services provider Komerční banka (KB), Telefónica and Samsung to roll out NFC-powered mobile payments services in the Czech Republic.

The launch builds upon a pilot project carried out in 2011. The new service works by allowing smartphone owners to replace their existing SIM cards with special, NFC-enabled SIM cards which enable users to pay for goods and services with their mobile phones at merchant locations.

This NFC-enabled SIM cards can be linked to new or existing KB bank accounts. The mobile payment application is pre-loaded onto the NFC SIM cards and is provided by Visa Europe.

More: Link
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