Visa in partnership with Nokia have launched a mobile payment system which allows users to pay for purchases with their mobile phone.
The mobile payment enabled phones utilise a Near Field Communication (NFC) chip which is read electronically by swiping the phone over a reader, the user then confirms the purchase by pushing a button and this completes the transaction. According to Visa you will also be able to manage your accounts and pay off your Visa bill from your mobile phone.

The platform is the result of many years of trials around the world and will enable mobile contactless payments, remote payments, person-to-person payments, and mobile coupons.

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Filed under: society, technology, cellphones