Visa Will Ramp Up Development Of Mobile Payment Network - Hopes To Be Ready For 2012 Summer Olympics

A couple weeks ago Reuters reported that payment technology giant Visa is accelerating its efforts in the field of mobile payments in the hopes to have a system in place with Samsung for the 2012 Olympic Games in London. Visa has also partnered with ISIS to develop a mobile payment network in the United States.

Mobile payments networks are in the near future and are being tested for functionality now. Visa reported they have been trialing an iPhone NFC payment option in Europe. Of course this technology is referring to the ability to pay for items with your phone instead of swiping your card or paying with cash.

The benefit of this technology to marketers will be limitless once this system is established in the United States. Location based marketing like Foursquare, social communities like Groupon and Living Social would all be able to benefit from mobile payment networks. Naturally, this evolution would take inbound marketing to a new level.

Would you use a mobile payment system if you had the option? Let us know – leave a comment here or tweet us @jasegroup to keep the discussion going. Want to hear more about mobile payment systems and how they could benefit your company? Subscribe to our blog for updates as they are made available.

image credit: Tom Purves on flickr

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