Hailing the recent commercial availability of V.me by Visa as “another milestone on the journey to digital cash” the Economist provides an overview of the major players and landscape in the digital wallet space in “War of the Virtual Wallets“, including perspective from Visa’s global head of eCommerce, Jennifer Schulz.
While noting that the competition in the virtual wallet space is white-hot, the article asserts that Visa is well-positioned as the battle intensifies. Some Visa-specific statistics noted in the article to support this prediction include:
*More than 2.3 billion Visa cards in circulation
*Over $8 billion in total Visa credit, debit and prepaid transactions processed in 2011
*Significant technology investments and acquisitions in developed markets, including V.me and Square
*Strategic investments in developing and emerging markets, including Monitise and Fundamo (a Visa company)
*Strong relationships with large member banks, including 50+ supporting V.me
Please click here to read the entire article.
Posted by: Ryan Donovan, Corporate Relations on November 15, 2012 at 1:34 pm
We’re always pleased to see payment technology innovation that creates more opportunities for people to use their Visa products, so we read with interest that the U.S. presidential candidates are doing just that, by deploying Square’s technology to capture additional campaign contributions.
The news of the Obama and Romney campaigns equipping staff, volunteers and community organizers with Square payment technology makes simple sense. Campaign organizers can now “strike while the iron is hot” by soliciting contributions on site at rallies and other campaign events when donors are likely to be fired up to contribute to their favorite candidate
Deployments like this can save hundreds of man-hours and increase fundraising receipts. Donors will now have the option of mobile face-to-face card payments through Visa’s network with the convenience of automated email receipts for easy tax filing. As one of the world’s largest payment networks and an early investor in Square, Visa is encouraged to see this growth of payment card acceptance, no matter how the campaigns end.
“Anything that reduces the barrier to donate is going to help us with our supporters,” Zac Moffatt, the Romney campaign’s digital director told The New York Times.
Posted by: Ryan Donovan, Corporate Relations on February 3, 2012 at 9:10 am
The payments industry has always been one of dynamic change so we were encouraged to read a recent AllThingsD profile of a start-up called Square.
Square is a service that enables merchants, who have traditionally been limited by paper-based payments, to accept electronic payments through a credit card reader that plugs into a phone or iPad. This is a big deal and will help the entire payments industry’s efforts in bringing access to electronic payments to a segment that has historically not been easy to serve—very small merchants.
Posted by: Elvira Swanson, Visa Corporate Relations on February 14, 2011 at 6:29 pm