Six months ago, we announced our global innovation strategy to deliver the next generation of payments. Today, we’re introducing two important building blocks in that effort: opening Visa to developers via the Visa Developer Center – including the introduction of the V.me by Visa digital wallet brand and global acceptance mark – and the new Visa Mobile Prepaid product designed specifically for consumers in developing countries. These milestones reinforce Visa’s ongoing efforts to give consumers more places and ways to pay and be paid, as well as provide financially excluded consumers with secure and reliable financial services.
Embracing the Developer Community
With the Visa Developer Center, we’re standing behind our belief that some of the most innovative ideas for the future of payments will come from leading-edge software developers. We’re arming the developer community with the tools to build person-to-person payment capabilities, domestic and international remittances, and other applications by providing access to Visa tools, API’s, documentation, and code. Visa is also improving access to the separate developer resources of CyberSource, Authorize.Net, PlaySpan, and the new V.me digital wallet. We’re excited about the future innovations 3rd party developers may conceive through the Visa platform, and look forward to payment applications not yet imagined today.
Our First Joint Visa and Fundamo Product
After acquiring Fundamo just over five months ago, Visa is introducing its first jointly developed product: the Visa Mobile Prepaid product. The new product, a Visa prepaid account that can be accessed through a simple menu on a mobile phone, enables consumers in developing countries to send and receive funds, make purchases online or at merchants where Visa is accepted, and withdraw money at ATMs. It brings Visa’s high standards for security, reliability and interoperability to consumers who have lacked access to formal financial services. The product is the result of a new mobile money platform that connects financial institutions and mobile network operators with VisaNet.
Stay tuned for additional progress in the weeks and months ahead.
Posted by: Jim McCarthy, Head of Global Product, Visa Inc. on November 16, 2011 at 7:00 pm