Last month, it was rumored that the Samsung Galaxy S III would be the official smartphone of the 2012 summer Olympics. Visa announced has officially announced that the S III would be the official London 2012 Olympic Games smartphone. Visa will provide NFC payments to athletes while they are competing in the city. The S III is Samsung’s flagship Android smartphone.
The phone has a 4.8-inch Super AMOLED screen (1280×720 HD display), 1.4GHz Exynos 4 Quad processor, 8 megapixel camera, 32GB of internal storage, and voice-/eye-tracking software features. Visa and Samsung will launch a limited edition Galaxy S III Olympic handset for the game with a themed version of its payWave Android application in partnership with Lloyds TSB to offer contact-less payments to competing athletes in a number of retailers across the city.
Visa aims to have over 140,000 contact-less terminals across the U.K. Taxis, retailers, and the Olympic Park will have the terminals. Visa’s payWave technology will require customers to hold their NFC-enabled phone in front of their contact-less readers to purchase an item. The app won’t require interaction for payments under £15 — anything above this amount will require a passcode. Users will also be able to see a list of recent transactions and view their balance in real-time.