Google, mobile provider Sprint and the Isis group are already doing it, but now Visa have announced they will launch their own mobile wallet system this autumn in the states. The US launch is likely to provide a blueprint for a global rollout of the scheme.
The system will use NFC enabled smartphones for purchases and balance transfers (where users 'bump' their phones). Visa plans to work with a range of banks on the scheme which will support non-Visa cards. The wallet will utilise a username and password system rather than card details to control payments. Users will also be able to specify which accounts are used for different kinds of purchases.Bill Gajda, Visa's head of global mobile products, said:
"People will use plastic for many years to come but increasingly, we'll be talking about accounts not cards and Visa as a payment platform and provider as opposed to a physical card payment company,"
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