Visa International launches its Mobile Payment platform
With this announcement, Visa aims at reaching a better collaboration between financial services providers, and telecom operators. Visa identifies mobile payment as one its future growth areas given the importance of the mobile channel as a medium to deliver consumer services.
The platform is a suite of technology tools and applications, security standards, and business models that will enable Visa issuers and mobile operators to engage in market trials. The first version of the platform supports contactless mobile payment, OTA personalization, coupons and direct marketing. Subsequent versions, to be launched later this year will include solutions for remote payment and person-to-person payment.
Over the years, Visa has accumulated an extensive experience in the mobile payment arena. The payment association has been involved in the first large-scale mobile payment trial at Philips Arena in Atlanta last year, and in the mobile payment program set up in Malaysia with Maybank and Maxis Communications. Visa International has encouraged standardization though its active participation to Mobile Payment Forum, the Near Field Communication (NFC) Forum, GlobalPlatform and EMVCo.
To deliver this mobile payment vision, Visa has collaborated with Cassis International, Ecrio, Giesecke & Devrient, IBM, Inside Contactless, mFormation Technologies, Nokia, NXP Semiconductors (formerly Philips), Venyon (Nokia and G&D joint venture), Verisign and ViVOtech.