Samsung and Visa Take NFC Mobile Payments Global

BARCELONA -- Your next Galaxy S smartphone might also be your Visa card. That's because Visa and Samsung announced Monday that Visa's NFC payment system will be built into all future Samsung smartphones.

This is a big win for Visa, Samsung and viability of NFC payments. Visa is one of the leaders in the mobile payments space and Samsung is the world's biggest smartphone maker. Together, the two have a solid chance of making mobile payments a global reality.

Visa is going to power the secure element that runs on Samsung's NFC devices. The secure element is what allows a payment processor (such as Visa) to talk to a bank.

Apps and wallets can be developed for any number of payment pro…
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