Visa Europe and Google announced that Google has received a worldwide license to Visa payWave, an innovative NFC-based payment technology.
Visa payWave enables consumers to make fast and secure payments at retail locations by waving their mobile phone in front of a payment terminal and is currently accepted at hundreds of thousands of retail locations worldwide.
Mobile technology is transforming how people pay for goods and services,” said Jim McCarthy, global head of product, Visa.
This agreement builds on Visa’s strategy of enabling consumers to make mobile payments with whatever device they choose using the trusted accounts they already have,” McCarthy added.
The agreement sets the stage for Visa-issuing banks worldwide to enable Visa account holders to add their credit, debit and prepaid accounts to Google Wallet a mobile application that turns a smart phone into a digital wallet. This is the latest effort by Visa and Google to simplify the consumer shopping experience by enabling them to make mobile payments using their mobile phones.
This agreement extends Google Wallet to Visa account holders worldwide,” said Stephanie Tilenius, vice president of Commerce and Payments at Google.
This is a crucial step towards realizing our shared vision for the future of mobile commerce one that creates a rich shopping experience for consumers and merchants alike,” Tilenius added.
This news furthers Visa’s progress in making its products available as a payment option in any digital wallet. This includes Visa’s own digital wallet announced earlier this year which is designed to provide consumers with click-to-buy” payment functionality and access to their Visa and non-Visa accounts using a personal computer or smart phone, to make purchases online and at retail locations.
Google Wallet is designed to enable an open commerce ecosystem enabling consumers to carry payment cards, offers, loyalty and gift cards and eventually much more. Google is also working with top retail brands to create a new mobile shopping experience.
Recently, Visa released a set of mobile acceptance best practices for merchants, software developers and device manufacturers who are using consumer mobile devices, such as smartphones and tablet computing platforms to facilitate the acceptance of card payments.
By Telecomlead.com Team