Visa announces its plans to launch new payment services

Visa announces its plans to launch new payment services

Visa Inc announced the launch of next generation payment solutions to replicate the ease, reliability and security of Visa point-of-sale payments within traditional and digital eCommerce, mobile commerce and burgeoning social networking commerce environments.

According to the official statement the new offering will include a secure cross-channel digital wallet and a range of customized mobile payments services that address the specific requirements of geographic markets around the world.

“Our new solutions deliver greater consumer choice, convenience and control while helping our clients grow their businesses. By helping to reduce abandoned online shopping carts and bringing new account holders into the Visa network, we create a win-win-win for merchants, consumers and financial institutions,” noted Joseph W. Saunders, Chairman and Chief Executive Officer of Visa Inc. “In addition, we believe Visa’s new payments products and services will help expand financial inclusion to the billions of mobile subscribers today who currently lack access to traditional financial services.”

Visa says that in certain markets with established electronic payment infrastructures, expansive Internet usage and broad mobile network penetration it will launch a digital wallet and services platform. The digital wallet will store Visa and non-Visa payments accounts, support NFC payments through the innovative Visa payWave application and deliver a wide range of transaction services to accommodate multiple commerce scenarios—including eCommerce, mobile commerce, micropayments, social networks and person-to-person payments.