Video: What’s Visa working on for mobile payments?

This week in Paris at the Cartes exhibition, Visa was showing off what they’re working on for mobile payments. They demos a native iPhone application, along with a Visa application that is embedded on a SIM card. The most exciting stuff, NFC, is shown off on a shipping Nokia (NYSE: NOK) device. Payments under 20 EUR are just tap and go, useful when you’re in a crowded bar and don’t want to fiddle with credit cards or hard currency, while payments over 20 EUR require a tap, a PIN code, and then another tap to confirm. The sad thing about all of this is that we’re unlikely to see it for at least another year or two. That’s just enough time for Nokia to start rolling out Nokia Money to customers and operators around the world. Here is hoping that rumour of the next iPhone having NFC is true. I’m tired of having to sign little pieces of paper.

[Via: Recombu]