Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Visa Inc    V   US92826C8394

VISA INC (V)

163
Delayed Quote. Delayed Nyse - 07/25 03:40:20 pm
214.39 USD   -3.75%
38m ago Global stocks and euro hit by German data, U.S. results
41m ago Stocks and euro hit by German data, U.S. results
1h ago Wall St. falls on Amazon, Visa results
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

Visa Inc. : Visa Certifies Smartphones for Use as Visa Mobile Payment Devices

01/10/2012 | 03:05am US/Eastern
Recommend:
0

NFC-enabled smartphones from Samsung Electronics, LG Electronics, and Research In Motion approved for use with Visa payWave, Visa's mobile application for payments at the point-of-sale

Visa Inc. (NYSE:V) and Visa Europe today announced that NFC-enabled smartphones from Samsung Electronics, LG Electronics and Research In Motion (RIM) have been certified for use with Visa's mobile application for payments at the point-of-sale, Visa payWave. The Samsung Galaxy SII, LG Optimus NET NFC, BlackBerry® Bold? 9900, BlackBerry Bold 9790, BlackBerry® Curve? 9360 and BlackBerry Curve 9380 have been added to the list of Visa compliant payment products available for commercial deployment by financial institutions.

All the new devices certified by Visa host the Visa payWave application on a secure SIM card and feature NFC (Near Field Communication) technology, the short range communications standard that enables mobile phones to securely transmit payment information to a contactless payment terminal.

"This is an important step for Visa, its financial institution partners and the mobile industry," said Bill Gajda, Global Head of Mobile Product, Visa Inc. "In addition to issuing plastic magnetic stripe or chip-enabled payment cards, financial institutions can now consider offering their accountholders a way to transform their smartphones into fully functional mobile payment devices."

Visa's certification of these smartphones paves the way for mobile device manufacturers, mobile operators and retailers to partner with financial institutions to offer Visa mobile payment functionality to consumers globally.

Visa's Certification Process

Visa has played a leadership role in establishing global standards for mobile payments, making sure that they are aligned with existing technology and security standards for chip payment cards and can easily be integrated into the existing payments ecosystem. For example: Visa payWave on mobile devices is compatible with existing contactless (NFC) payment terminals already installed at retail outlets worldwide, enabling Visa accountholders to simply wave their enabled phone in front of a payment terminal in order to pay.

Visa has a compliance testing process for both mobile devices and the secure elements that host the Visa payWave mobile application. The process includes extensive technical and usability testing with respect to the Visa mobile payment functionality. This helps to ensure reliable and secure Visa transactions which are compatible with the global standard for chip-enabled payments, and establishes a required signal range for all mobile (NFC-enabled) Visa payment devices. Visa's compliance testing process helps to ensure the combination of the phone; secure chip and Visa's mobile payment application will provide the level of security and user experience Visa accountholders have come to expect from Visa.

"Today's announcement is another example of the momentum we are seeing behind NFC as an industry standard for mobile payments," said Nick Holland, senior analyst Yankee Group. "Yankee Group predicts that the value of NFC-based transactions will grow significantly, from $27 million in 2010 to $40 billion in 2014."

About Visa Inc.:

Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks -- VisaNet -- that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

About Visa Europe:

In Europe, there are 438 million Visa debit, credit and commercial cards. In the 12 months ending June 2011 those cards were used to make purchases and cash withdrawals to the value of ?1.7 trillion. 12.5% of consumer spending at point of sale in Europe is with a Visa card, and more than 70% of that is on Visa debit cards.

There are around 30 million contactless Visa cards across Europe, distributed by 54 different issuing banks, with over 175,000 contactless terminals. By the end of 2012 there are expected to be more than 50 million contactless Visa cards in circulation across Europe.

Visa Europe is owned and operated by more than 4,000 European member banks and was incorporated in July 2004. Visa Europe is independent of global Visa Inc., with an exclusive, irrevocable and perpetual licence in Europe, while both companies operate to ensure global interoperability. As a dedicated European payment system Visa Europe is able to respond quickly to the specific market needs of European banks and their customers - cardholders and retailers - and to meet the European Commission's objective to create a true internal market for payments.

For more information, visit www.visaeurope.com.

The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited.

Press & Analysts Only:
Visa Inc.
Matthew Flegal, +1 415 932 2564
globalmedia@visa.com
or
Visa Europe
Eleanor Orebi Gann, +44 207 795 5291
orebige@visa.com


© Business Wire 2012
Recommend :
0
React to this article
Latest news on VISA INC
38m ago Global stocks and euro hit by German data, U.S. results
41m ago Stocks and euro hit by German data, U.S. results
1h ago Wall St. falls on Amazon, Visa results
2h ago AMAZON : Wall Street plunges in opening as Amazon and Visa miss forecasts
4h agoDJMARKET SNAPSHOT : U.S. Stocks Fall; Dow Dips Below 17,000
6h agoDJMARKET SNAPSHOT : U.S. Stocks Open Lower; Dow Falls Below 17,000
6h agoDJU.S. HOT STOCKS : Hot Stocks to Watch
7h ago VISA : Data Processing and Outsourced Services Equities Technical Coverage -- Xe..
8h ago VISA : ICBA Bancard Announces Launch of Visa Checkout to Clients
1d ago MASTERCARD : Visa cuts revenue forecast as cross-border transactions slow
Advertisement
Chart
Duration : Period :
Visa Inc Technical Analysis Chart | V | US92826C8394 | 4-Traders
Income Statement Evolution
Visa Inc : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF