We’ve talked about mobile technology in the past, and you’ve seen it at work in transit systems in the New York metro area where commuters can pay fares with a mobile phone. But here’s the chance to listen to Bill Gajda, Visa’s head of mobile innovation, talk about the company’s strategy in this emerging field, which he predicts will “become the predominate channel for payments over the next 10 years.”
Bill came to Visa from GSMA, a telecom trade association, where he was Chief Commercial Officer. At Visa, Bill’s charge is to further advance Visa’s mobile strategy, working in collaboration with the wireless and financial services industries to bring mobile payments and related services to consumers around the globe.
Mobile payments are still a nascent development, but with more than 4.8 billion mobile phones worldwide, the opportunity is tremendous. And as Bill notes, it’s a big part of Visa’s future. The company is currently testing contactless payments methods in over 20 markets located in both developed and developing countries. Our collaboration with DeviceFidelity— transforming a phone into a payment device—has already been introduced at high volume retailers, such as fast food, taxis, drug stores throughout New York and other metropolitan areas, where speed matters. Outside of the U.S., mobile phones are accessible in ways that a traditional payment infrastructure can’t reach. Visa is moving on all fronts—creating new mobile services, acquiring technologies and platforms, and working with leaders in wireless —to ensure that Visa’s network plays a vital role in bringing secure, reliable and globally interoperable mobile payments to consumers everywhere.
Learn more about Visa’s plans in the video below, and you’ll see that your cell phone may soon become your mobile wallet.
Posted by: Elvira Swanson, Visa Corporate Relations on October 15, 2010 at 2:36 pm
