Samsung is planning to introduce a mobile phone that will allow contactless payments for the London Olympics next year.
Samsung will be working with Visa on the Near-Field Communications (NFC) project. The phone, dubbed as "Samsung Olympic and Paralympic Games" mobile handset, will use NFC technology that allows payment by waving a mobile handset in front of special readers.
The phone will feature a Visa enabled sim card and around 60,000 locations in London will be equipped with readers to accept NFC payments before the Olympics begin in 2012.
The phone will be given to athletes attending the Olympic and Paralympics games for free. It will also be on sale for others.
It is still unknown which operator will support Visa and Samsung. Vodafone could be a potential partner as Everything Everywhere has an NFC contract with Barclaycard and O2 has its own payment project.
Both Samsung and Visa are sponsors of the games.
