In Brief

VISA smartphone and NFC payment system in London may not be the revolutionary system everyone had hoped for.

Financial services company Visa is championing a new cashless payment system to help meet the needs of the thousands of consumers flocking to this Summer’s Olympic games in London.

Over a thousand people at the olympic games have been given a special edition, Olympic-branded Samsung Galaxy S III phone. By linking their Visa account information with their Galaxy S III phone, users are able pay for items up to £20 in value simply by swiping their phones over a special NFC reader located at the cash register of most vendors.

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