I want to make it very clear. Once the card is sent to the phone, which is done over the network, over the wireless network, there's no network connectivity required from that point forward. When you open your virtual wallet on your phone and choose your Visa or MasterCard, it is presented from the physical phone to the payment terminal over that interface. It never touches the cellular radio network in any country. It's only when it is sent to the card that it uses our wireless mobile network. After that, it's communication directly between this phone and the radio payment terminal.
On November 2nd, 2011. See this statement in context.