Mobile commerce continues to attract interest of Samsung
Over the past few months, Samsung has seen its position in the mobile world change. The company has overcome its long-time competitor Apple as the largest provider of mobile devices in the world. The recently launched Samsung Galaxy S III has managed to garner more acclaim than the iPhone 5 and has helped position Samsung to make a strong entry into the realm of mobile commerce. The company sees major promise in mobile commerce and has begin taking aggressive steps toward establishing a stronger foothold in t his emerging market. As such, Samsung has announced its partnership with Visa.
Partnership aims to promote mobile commerce and digital wallets
Visa has already established a formidable presence in the mobile commerce sector. The company offers various mobile commerce services to merchants around the world and help make it easier for consumers to make transactions from their mobile devices. Together, the companies will work to spread the adoption of mobile commerce and digital wallets, which store a consumer’s financial information on a smartphone or tablet so that it can be easily accessed to purchase products.
NFC technology will be a focus of new partnership
The two companies will have a strong focus on NFC technology. NFC has been the cornerstone of mobile commerce for the past two years. The technology allows for short-distance data transmission between two mobile devices, or a mobile device and a payment terminal. The Samsung Galaxy S III is equipped with NFC technology, making it a viable mobile commerce platform, but the availability of NFC-enabled mobile devices is still very low, making it difficult for consumers to participate in mobile payments through NFC-based systems.
Samsung and Visa expected to compete with Google and PayPal
Samsung has plans to incorporate NFC technology into its future smartphones and will be working with Visa to ensure that Visa cardholders will be able to use these devices to conduct mobile payments. The two companies have high hopes for mobile commerce, but will have to overcome the competition that exists in the mobile commerce sector. Much of this competition will likely come from Google and Isis, though PayPal has been making strong progress in attracting consumers to mobile commerce with its NFC-free approach.
