Visa’s newest and largest innovation center in London is now officially open for business in its European headquarters in Paddington Basin. The new space is designed to allow Visa to better work seamlessly with financial institutions, merchants and its various other partners to develop new payment solutions.
“As a successful fintech entrepreneur myself, I understand that quite often businesses need a little bit of help to turn the kernel of a good idea into something truly transformative,” noted Rajesh Agrawal, London’s deputy mayor for business; he further stated that the new center will bolster the capital’s “flourishing global tech and fintech reputation.”
The new space will offer visitors a chance to see practical demonstrations in development areas like the internet of things (IoT) in connected car and connected home environments. Visitors will get a glimpse of the future where things like paying for car insurance or placing a grocery order from a refrigerator are both normal parts of day-to-day life. Visitors can also use virtual reality to pick a seat for an upcoming Formula E race and biometric authentication to pay for tickets.
Berlin, Dubai, Miami, San Francisco, Singapore, Sao Paulo and Tel Aviv area all also home to Visa Innovation centers.
The opening comes concurrent with an announcement from Visa that fintech developers across Europe can use its Visa Developer Platform to create new “secure” ways to pay.
To do so, developers can leverage an initial set of Visa payment APIs, SDKs and documentation to create new commerce applications.