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01/02/2011 -
Visa recently began a European trial of Near Field Communications on the iPhone, testing out the payment processing technology before Apple launches its own iPhone NFC wireless technology.The credit card company conducted a study in the fall of 2010 that canvassed 4,200 cell phone users from the UK, Poland, Italy and Turkey, Near Field Communications reports. The results showed that 87 percent of iPhone users would be willing to use the phone to make mobile payments. When the question was posed to all respondents regardless of the phone they use, only 41 percent said they would use Visa mobile payment technology.
Fast Company reports that the iPhone 5, which is expected to debut this year, may include NFC technology. Google has enabled the Nexus S to make mobile payments and Nokia has announced that it will feature the technology on its new phones, the source reports.
In order for the new technology to catch on, retailers and banks will need to install the necessary hardware into their point-of-sale terminals. As part of the European trial, Visa is working with local cell phone networks and national banks.
