Visa Certifies Smartphones for Use as Visa Mobile Payment Devices
February 10, 2012
Visa Inc. today announced the launch of mobile services that allow financial institutions to offer their account holders the ability to monitor account history and balances, transfer funds between accounts, and receive near real time transaction alerts on their mobile devices.
Working in collaboration with Monitise, Visa made a significant enhancement to its issuer processing platform, Visa DPS, to offer mobile services that are fully managed by Visa and can be accessed with any mobile device, any mobile channel, and with any eligible debit, credit or prepaid account. Additional services are currently in development including mobile check deposit, mobile (NFC) payments, mobile offers, and support for V.me by Visa, Visa's digital wallet service.
Enabling mobile services through the Visa DPS platform directly aligns with Visa's global innovation strategy to accelerate the global shift to electronic payments, to make payments more secure, more convenient and to bring electronic payments to more consumers in more places.
"The services offered by Visa DPS are a one-stop solution for Visa clients who want to serve their customers through the mobile channel without making significant investments in hardware, software or mobile expertise," said John Partridge, President, Visa Inc. "Through our ongoing investments in Visa DPS, our clients can not only take advantage of Visa's scale and expertise in payments processing, but also have the opportunity to easily implement Visa's extensive roadmap of mobile innovations -- from mobile banking, to NFC payments, and to our digital wallet, V.me."
In developed countries like the U.S., with an established electronic payments infrastructure, expansive Internet usage and broad mobile network penetration, Visa's strategy is to enhance the consumer purchase experience by making mobile payments and services broadly available.
Lisa Stanton, General Manager for Monitise North America commented: "Mobile money innovation is transforming how consumers manage accounts, providing them with real-time account access and information on the go, while also enhancing the overall experience with their account. The launch of mobile services offered by Visa DPS is a great win for financial institutions in North America eager to utilize the mobile channel to serve their customers."
About Visa Inc.
Visa 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 digital currency. Underpinning digital currency is one of the world's most advanced processing networks -- VisaNet -- that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed 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, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com .
About Visa DPS
Offering Visa quality security, reliability, scale and interoperability, DPS is a large-scale, multi-product, multi-network issuer processor and payment solution provider that delivers a comprehensive and innovative set of capabilities including card, account, and transaction processing, settlement, mobile services, ATM driving, extensive fraud prevention and risk mitigation solutions, back-office tools and services, data analytics, and cardholder and program support services. DPS is the largest issuer processor of Visa transactions in the U.S.
Monitise plc is a technology and services company delivering mobile banking, payments and commerce networks worldwide with the proven technology and expertise to enable financial institutions and other service providers to offer a wide range of services to their customers in developed and emerging markets. Monitise has a global alliance agreement with Visa Inc. and a strategic partnership with Visa Europe. With live services in the UK, the US, India and Africa, the company is working with international partners to extend trusted and secure mobile banking, payment and commerce services in territories worldwide, including Europe, Asia Pacific and Latin America.
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