Visa and Intel will work together to develop mobile payment systems for cellphones and tablet computers, looking to move the systems into more mainstream use and into emerging economies. Intel said its Smartphone Reference Device will host Visa's payWave payment application and feature near-field communication technology. "Visa's agreement with Intel paves the way for financial institutions around the globe to offer their account holders mobile payments and financial services using innovative mobile devices and technologies designed by Intel," said John Partridge, president of Visa.

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