Image via WikipediaThe world’s largest payment system, Visa Inc., is now announcing its new venture as it discloses that it will soon be launching a digital wallet, which will immensely facilitate the users will making online payments. Moreover it will also make it very easier for the cellphone users to make payments, rather than using their traditional cards. It was announced on Wednesday that Visa Inc. will be collaborating with sever major banks of not only the U.S. but also international banks in this new project. Some of the initial partners, already on board with this digital wallet project, are named to be US Bancorp, PNC Financial Services, Regions Financial, BB&T Corp, Toronto Dominion's TD Bank and the U.S. arm of Barclays PLC.
This "digital wallet" will have the facility to store the credit and debit card account information of the customers of any bank, both for Visa cards and other cards. Visa said that the users can then use this wallet for making payments in online stores or on other stores too. Further, it will be adviced to all merchants to have a "one-click" button on their websites for the potential customers to use the Visa digital wallets easily and make the transactions quickly. It said that users will be able to buy things after just that one-click rather than entering all the sophisticated information manually each time they make an online purchase.
To make it possible for mobile users to make payments, all parties of the collaboration: banks, mobile phone operators and networks like Visa are hoping to make full use of the high-potential market for U.S. mobile payments. Just last week, an attempt to make a separate mobile payments system administered by the top three U.S. carriers, called Isis, was suspended and the companies claim to have ‘modified its initial goals.’ All the companies now seem keen to work with Visa and MasterCard for introducing the digital mobile wallet.
Visa along with its rivals, including MasterCard Inc, American Express Co and Discover Financial Services, are making attempts to discover a better way for cellphone users to not only easily buy things online, but also in actual stores using their cellphones. Visa reported in a statement that separate Visa Walled pilots will be phased out for smartphone payments testing and will then be made for all users in this summer. Visa has intentions to launch digital wallet in the United States and Canada in fall of 2011 at first.
No comments:
Post a Comment