Dive Summary:

• Visa and Samsung announced Monday that new Samsung phones with near-field communications technology will come preloaded with Visa's payWave software.
• The technology is included in Samsung's popular Galaxy smartphones, the next of which will be introduced in March, and allows a user to exchange payment information by tapping their phone against a payment terminal.
• Retailers and other outside companies could potentially choose to build the technology into their apps, and the Visa payment app could end up replacing customers' Visa cards.

From the article:

... In the past year several companies have announced different approaches to mobile payments, but the technology has not caught on with American consumers. Analysts say that is in part due to the fact that businesses have not proved that paying with a wallet is more convenient than using cash or a credit card. But it is also because the tech companies, banks and carriers are competing to have their own system gain dominance, rather than working together. ...