Credit card payment giant Visa targets evolving mobile payments market
BARCELONA, Spain – The mobile payment market is quickly evolving around the globe and credit card giant Visa is looking to play a bigger role in the space.
At the recent Mobile World Congress event, the global payment technology company showcased solutions catering to new markets, including a connected car platform that allows consumers to pay for gas and parking without leaving their vehicle, wearable contactless payment devices and biometric authentication.
In a video interview with RCR Wireless News, Allen Cueli, senior business leader at Visa International, commented on how Visa is working to enable new payment experiences, including mobile payments, wearables and the connected car. Cueli said the company is working with the entire ecosystem to set the stage for enabling these payment experiences. One of the tools is the Visa tokenization service designed to protect sensitive financial information.
“Through API third parties, partners such as Samsung and Apple are able to connect with us to enable these new payments experiences,” Cueli said. “Our goal is to make the process, no matter what connected devices customers are using, simple, secure and convenient.”
Talking specifically about Latin America, Cueli said Visa, Samsung and eight partners launched a mobile payment solution in Brazil uses tokens and near-field communications. The service is expected to roll out to other Latin American countries beginning later this year.
Editor’s note: Samsung provided travel costs to Mobile World Congress.
