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How Visa Plans Mobile Payment Domination & Digital Wallet

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Visa is implementing a 3 pronged strategy to innovate the way that we pay when we shop and how we get paid. Mobile payments are already here and the technology, security and ease of payments are all increasing.

One of the strategies is NFC (near field communications) enables people to make transactions, exchange digital content and connect electronic devices with a simple touch. Visa’s Global Head of Mobile Product Bill Gadja and the company’s Head of Global Product Strategy, Innovation explains that "Visa is licensing mobile payments applications PayWave for integration with the ISIS wallet and the company is actively looking for other ways to integrate with NFC into the company’s mobile payments structure."

The underlying digital payment structure is evolving with the increase in e-commerce and especially with the increase in mobile commerce. " Users will have an account, and they can add their credit card numbers (and cards from other credit card companies such as American Express and Mastercard). Visa is partnering with a number of financial institutions to offer this product to their customers."

Quotes are from TechCrunch. [URL="http://techcrunch.com/2011/08/07/how-visa-plans-to-dominate-mobile-payments-create-the-digital-wallet-and-more/"]See the full article[/URL].

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