Visa launches new mobile payments platform
Visa has launched a mobile platform that it hopes will lay the foundation for the commercial use of mobile payments and services for millions of mobile device users around the world.
The new platform is designed to foster collaboration between the financial services and mobile telecommunications sectors for the delivery of mobile payment applications and payment related services.
"Visa has long realised the importance of the mobile channel to the future of payments and as a medium to deliver consumer services," said Patrick Gauthier, senior vice president, innovation, Visa International. "The launch of the mobile platform is significant because it will enable trials and go-to-market strategies for mobile payment services globally."
Suite of technologies The platform is a comprehensive suite of technology tools and applications, security standards, and business models that will enable Visa issuers and mobile operators to engage in market trials to drive product development and commercialisation of mobile payment services.
Developed in partnership with a number of mobile technology companies including handset manufacturers, chip suppliers, mobile applications developers, over-the-air (OTA) service providers and mobile messaging providers, the platform is flexible and complementary to existing technologies, meaning that it will easily integrate with existing wireless technology and payments infrastructures.
Intuitive for consumers The platform was designed to make it easier for Visa issuers, mobile operators and technology providers to deliver an intuitive, integrated consumer experience through a range of services such as mobile contactless payments, remote payments, person-to-person payments, and mobile coupons, as well as account management services that enable consumers to monitor their account activity as well as to manage their money.
Key organisations that have been working with Visa on its mobile payments vision include: CASSIS International, Nokia, Ecrio, NXP Semiconductors (formerly Philips), Giesecke & Devrient GmbH (G&D), Venyon, IBM, VeriSign, Inside Contactless, ViVOtech, and mFormation Technologies.
Phased launch The initial version of the platform launched today offers solutions for contactless mobile payment, OTA personalisation, coupons and direct marketing. Subsequent versions of the platform, to be made available later in 2007, will include solutions for remote payment and person-to-person payment.
This tiered launch approach enables Visa issuers and mobile industry partners to take advantage of near-term opportunities in specific markets and consumer segments now, while also building toward a complete mobile payments programme that brings long-term growth and delivers value to consumers as new technologies and architectures are deployed.
Market activities Visa's experience with numerous market trials around the world in a variety of different payment types, including proximity, remote and person-to-person, as well as work with a cross-section of mobile technology providers, strongly influenced the development of the mobile payment platform.
Visa has also led efforts to encourage cross-industry cooperation and standardisation through internationally, through involvement in organisations such as the Mobile Payment Forum, the Near Field Communication (NFC) Forum, GlobalPlatform and EMVCo.
Visa's recent activities using NFC technology have included:
- In the US: a large-scale mobile payment trial at Philips Arena in Atlanta in 2006. Partners included Atlanta Spirit, Chase, Cingular, Nokia, NXP Semiconductors, and ViVOtech.
- In Malaysia: Visa partnered with Maybank, Maxis Communications, Nokia and ViVOtech to pilot a mobile payment programme.