MasterCard and Visa Inc. announced an agreement to license their respective common U.S. debit solutions to each other to meet the industry need for a streamlined approach to route U.S. chip debit transactions over multiple, unaffiliated networks. Visa and MasterCard have made certain proprietary EMV chip technologies available to each other and other networks, enabling
Visa’s latest Global Travel Intentions Study 2013 shows that four of the top five biggest spenders hail from emerging markets. Saudi Arabia leads the global pool of countries with the highest average spend per trip of US$6 666 while Australian US$4 118 and Chinese travellers US$3 824 were not far behind. Brazil ranked fourth amongst the
Contactless payments technology continues to expand globally, and the number of NFC-enabled devices in use is expected to top 500 million next year according to ABI Research. Visa expects NFC and other chip-based technologies will help drive future payment innovations. Visa payWave, the secure contactless payment technology, helps cardholders speed through checkout without having to
Visa launched a white paper recently called “Lessons from the music business – how to profit from next generation payments”. At Insights 13 in Cannes, Peter Ayliffe, CEO for Visa Europe talked about the need to embrace change, drawing on the example of the music industry. This is an industry which, instead of embracing the change
Starbucks, Barclaycard Global Payment Acceptance and Visa Europe confirmed that over 550 company owned Starbucks stores in the UK accept contactless payments, making it even faster and easier for customers to buy their morning coffee. Starbucks follows Marks and Spencer, Co-Op, Post Office, Boots, McDonalds and other major national retailers in the move to contactless.
The growth in the use of electronic payment products, such as credit and debit cards, added $983 billion to the Gross Domestic Product (GDP) of the 56 countries examined between 2008 and 2012, according to a study conducted for Visa by Moody’s Analytics, a leading independent provider of economic forecasting. The study of 56 countries
Visa Inc. announced that it has signed agreements with three leading mobile point-of-sale (mPOS) providers to enable merchants of all sizes to accept Visa payments using mobile technology. iZettle, SumUp and SCCP Group’s Swiff, will participate in the Visa Ready Program to have their mobile acceptance hardware and software tested and approved for use with
Visa in South Africa launched the first Visa Africa Integration Index that measures the degree of economic integration within key trade corridors of sub-Saharan Africa, namely West Africa, East Africa and Southern Africa. Together with its partners, global payments company Visa touches 500 million people in these key African markets. Rationale Mandy Lamb, Acting General Manager for
Visa in Kenya announced the launch of Visa Personal Payments (VPP) in collaboration with Equity Bank, East Africa’s largest commercial bank by customer base. Visa Personal Payments is a convenient, cost-effective and secure way for consumers to send funds directly to recipients with Visa cards, both domestically and internationally. Equity Bank is the first bank
Visa’s new mobile point-of-sales (mPOS) device that makes it much easier and cheaper for smaller and medium enterprises (SMEs) to accept card payments, was showcased at the Visa stand at this year’s Tourism Indaba in Durban. Taking on a ‘plug-and-play’ approach, the mPOS device can simply be connected on to a mobile phone enabling business
