Visa Launches Mobile Payments

Visa has launched a mobile phone payments platform, giving millions of mobile phone users around the world the ability to make mobile payments, through their phones.

The platform, which includes a suite of technology tools and applications, security standards and business models, is designed to make it easier for Visa issuers, mobile operators and technology providers to deliver an integrated experience across a range of services, enabling consumers to better monitor account activity and manage funds.

Patrick Gauthier, senior vice president of innovation at Visa International, said: "The launch of the mobile platform is a significant industry milestone because it will enable innovative trials and go-to-market strategies for mobile payment services globally."

Visa says the new platform is flexible and complementary to existing technologies, ensuring seamless integration with global wireless technology and payments infrastructures.

Although the initial version of the software offers solutions for contactless mobile payment, over-the-air (OTA) personalisation, vouchers and direct marketing, later versions will include solutions for remote payment and person-to-person payment.

Mary Ann O’Loughlin, senior vice president of consumer practice at analyst and consulting company Ovum North America, commented: "By developing the mobile platform and engaging key industry stakeholders, Visa is leading the charge to simplify and jump-start the development of innovative mobile payment services."

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