Visa Partners with Financial Institutions Across the Globe to Enable Mobile Payment Services
February 26 2015 - 11:26AM
Business Wire
Visa Digital Solutions makes “wave-and-pay”
with mobile phones a reality for consumers globally
Visa Inc. (NYSE:V) today announced that it has partnered with
several leading financial institutions around the world to offer
new mobile payment services. BBVA and Cuscal launched new
issuer-branded mobile payment applications for mobile devices
running on the Android operating system. Additionally Banco do
Brazil, PNC Bank, N.A., and U.S. Bank intend to launch similar
capabilities in the near future.
To use these new mobile payment services, consumers simply
download their financial institution’s mobile payment app from the
Google Play store. Following a one-time enrollment process,
customers of participating financial institutions who download and
install the application will be able to pay in-store with their
Visa accounts by waving their Android mobile phone in front of a
contactless reader. These capabilities are an integral part of Visa
Digital Solutions, a comprehensive suite of offerings that
facilitate secure payments across a broad range of
Internet-connected devices and wearables.
“2015 is the year in which fast and safe mobile payments based
on Visa technology will proliferate across the world,” said Sam
Shrauger, senior vice president of digital solutions at Visa Inc.
“We are very proud that Visa’s Digital Solution is now accessible
to the broader market to be used across multiple devices and form
factors – enabling secure, fast and engaging commerce experiences
in any environment.”
Visa Digital Solutions
A year ago at Mobile World Congress 2014, Visa launched new
technology that provides financial institutions, merchants and
developers the ability to securely deploy mobile payment apps with
Android devices. Specifically, Visa is offering capabilities that
give financial institutions the option to take advantage of Host
Card Emulation (HCE), a new feature in the Android mobile operating
system that allows any NFC application on an Android device to
emulate a smart card.
Today’s announcement is a testament to the flexibility of Visa’s
Digital Solutions, which includes Visa’s software development kit
(SDK) and the Visa Token Service, an innovative technology that
replaces sensitive payment account information found on plastic
cards, such as the 16-digit personal account number, expiration
date and security code, with a unique series of numbers that can be
used for payment without exposing the underlying account details.
Visa Token Service is the foundation for Visa mobile payments
through Apple Pay, HCE and other digital payments apps and use
cases coming to the market.
“Host Card Emulation has opened up the Android payments
ecosystem to innovation, democratizing access to NFC and paving the
way for more rapid uptake of mobile commerce services,” according
to Jordan McKee, senior analyst at 451 Research. “Inevitably, the
technology will play a marquee role in driving the proliferation of
in-store mobile payments, an opportunity 451 Research projects will
reach $570.1 billion globally by 2018.”
“It was a great experience working with Visa to implement the
first HCE-based mobile payment solution in the Asia Pacific region.
Australia has the highest usage of contactless payments anywhere in
the world and we’re expecting increased uptake of HCE this year,”
said Adrian Lovney, general manager, product and service at Cuscal.
“We offer our clients cost-effective access to the newest and best
innovations in digital payments and we’ll continue to work to make
new payment methods a part of everyday life.”
Briefing for press only at Mobile World Congress
2015:
Monday, March 2, 2015 at 4:00 – 5:00 pm CET, Visa will host a
panel of clients and industry partners to discuss cloud-based
payments at its exhibition booth, Hall 6, Stand 6D40. The 60-minute
event will be streamed live through the following link:
http://www.streamingbarcelona.com/plataforma/visamwc15/. For more
information, please contact globalmedia@visa.com.
For more information about Visa Digital Solutions, please visit
www.visa.com/digitalsolutions.
About Visa Inc.
Visa Inc. (NYSE: V) is a global payments technology company
that connects consumers, businesses,
financial institutions, and governments in more than 200
countries and territories to fast, secure and reliable
electronic payments. We operate one of the world's most
advanced processing networks — VisaNet — that is capable
of handling more than 56,000 transaction messages
a second, with fraud protection for consumers and
assured payment for merchants. Visa is not a bank and
does not issue cards, extend credit or set rates and fees
for consumers. Visa's innovations, however, enable its
financial institution customers to offer consumers more
choices: pay now with debit, pay ahead of time with
prepaid or pay later with credit products. For more information,
visit usa.visa.com/about-visa, visacorporate.tumblr.com and
@VisaNews.
Press OnlyVisa Inc.Aida Hadzibegovic, +1
650-421-5169 (mobile)ahadzibe@visa.comorVisa Inc. / CanadaMichele
Michalakmmichala@visa.comorVisa Inc. / LACFabricio Migues, +55 11
2102 0034fmigues@visa.comorVisa Inc. / APZoe Hibbert, + 65
66715758zhibbert@visa.com
Van Kampen GR CA Mun (NYSE:VIC)
Historical Stock Chart
From May 2024 to Jun 2024
Van Kampen GR CA Mun (NYSE:VIC)
Historical Stock Chart
From Jun 2023 to Jun 2024