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Industry analyst Todd Ablowitz, president of Centennial, Colo.-based Double Diamond Group LLC, sums up the Olympics and payments well: “The Olympics have always been a showcase for [sponsor] Visa,” he tells PaymentsSource. “That’s the place where you always see what Visa thinks is hot and what is important to see.”

Ablowitz suggests there isn’t much more to read into the mobile application unveiling other than Visa knows a contactless future is coming quickly.

“Visa uses the Olympics to set the stage for what Visa wants to do in the future,” Ablowitz says. “Probably the most important thing here is that more people will see that Near Field Communication is real.”

The more often consumers see contactless mobile-phone payment used, the more often the payments industry will see commercial launches, meaning more availability for consumers, Ablowitz contends.

Payments Source, February 24, 2012