VISA started to test in Europe, a first banking payment system using iPhone terminals and NFC technology. The whole system works by installing an application in our terminal and mounting an NFC accessory through which the iPhone communicates with the VISA device that records the transaction. Basically, you install an application on your iPhone, enter your card data, mount the accessory in your iPhone and every time you attach the accessory to a compatible device in a store, you register the instant payment. VISA collaborates with certain stores in Europe for these tests.
VISA also conducted a study among Europeans to find out if they would be willing to test this system and 87% of those interviewed answered affirmatively. It is expected that Apple will implement an NFC module in its future devices, but until then we will have to see how the VISA tests with their new system go.
