Visa announces new mobile payment solution
Visa announces new mobile payment solution
Visa on Monday announced a “one-stop” mobile payment solution that looks to compete directly with Google Wallet and the carrier-backed ISIS payment system. After a consumer purchases a “Visa-certified” NFC-equipped smartphone, he or she can contact the company and activate the handset for mobile payments. The device will be securely linked with a user’s bank account and can then be used to make mobile payments anywhere Visa’s payWave system is accepted. “In the same way we have enabled the secure provisioning of payment cards for decades, we are now using mobile technology to securely provision mobile payment accounts over the air,” Visa’s Head of Mobile Products Bill Gajda said. “Financial institutions, mobile network operators, and even transit operators now have a simple, secure process to activate payment applications at scale and make mobile payments part of everyday life for consumers around the world.” The company announced that Intel Atom-powered smartphones and tablets will be the first Visa-certified devices to allow mobile subscribers to securely make NFC purchases. Read on for the company’s press release. More →






