Samsung will launch an "iconic" Olympic phone in connection with Visa and the London 2012 games in the first quarter of 2012 Pocket-lint has learnt.

The confirmation comes from Sandra Alzetta, Head of innovation and new product development at Visa Europe, at the company’s first European security summit in Frankfurt.

Although details are sketchy, what we do know is that the phone will come with NFC capabilities, special Olympic content, be available worldwide rather than just the UK, and in the words of Alzetta be "iconic".

Visa, an official sponsor of the London 2012 games, is keen to make the Games a contactless experience for the thousands of people attending.

To make that a reality Visa is also working to make sure current phone users get in on the NFC action too. Alzetta told the audience of European banking and security elite (and Pocket-lint) that it was working to bring a NFC solution to microSD cards allowing users to upgrade their current phone (all bar the iPhone) in the future.

Again the details are sketchy, but such a solution could eradicate the barrier to NFC entry overnight.

Visa says that the new NFC ready phones or memory cards will be able to be used at almost 160,000 terminals in Europe, including the 70,000 shops, bars, and restaurants in the UK.