The iPhone iWallet becomes even more real today as Visa Europe launches the first commercial deployment of its own iPhone payments App today. This news as NFC-capable iPhones should show later this year, with AAPL apparently pondering ways to offer merchants cheap and easy set-up for payment kiosks because mobile payments are nothing without the infrastructure to accept them.
Retailers, businesses and consumers have traditionally resisted the use of payment cards for low value transactions. Consumers think cards are slower than cash while retailers are put off by the cost of processing low value card transactions.
Today there’s demand for a system that can make and take low value payments. A survey conducted by Visa Europe in the UK, Italy, Poland and Turkey found 87% of iPhone users would be willing to attach an add-on to their phone in order to make mobile payments, reports NearField Communications World.
Visa Europe’s in-testing iPhone payment system requires that users employ an add-on device in order to make a payment. In this case, the trial is seeing a local bank and Turkey’s biggest mobile carrier working together, the report explains.