Visa launches its first NFC mobile payments service

Visa has launched its first mobile payment service utilizing Near Field Communications technology for point-of-sale transactions.

Debuting in Malaysia, the service allows owners of NFC-powered Nokia 6212 cell phones to wave the device by a contactless reader that will automatically deduct money from their credit account to make payments. Currently, 1,800 shops—along with highway toll gates and car park facilities—are already using the service.

In the U.S., though companies are eyeing the market for mobile payments, agreements on how to split revenue between manufacturers, network carriers and retailers have not been made, as we reported in January. [via PCWorld]