|By Business Wire||
|February 22, 2013 05:02 AM EST||
Visa today launched a new partner program designed to accelerate the introduction of innovative payment solutions globally and further drive the global migration from cash to electronic payments. The Visa Ready Partner Program paves the way for mobile device manufacturers, technology partners, mobile network operators, and others, to easily navigate the complexities of the payments ecosystem, and to gain access to Visa IP, licenses and best practices.
“The pace of innovation in the payments industry requires a new approach that ensures innovative payment methods can be tested, approved and commercialized quickly,” said Jim McCarthy, global head of product, Visa Inc. “While it is critical that we ensure new payment methods are secure and reliable, it is equally important to allow great ideas to become new ways to pay and be paid.”
The Visa Ready Partner Program is designed to provide innovators a path to ensure that devices, software and solutions used to initiate or accept Visa payments are compatible with Visa’s requirements, which may vary by country. It also provides a framework for the collaboration with Visa, as well as guidance and best practices to access the power of the Visa network. Mobile point-of-sale acceptance (mPOS) providers, mobile NFC-enabled device manufacturers, and chip and platform providers are among the stakeholders that are already playing a critical role in enabling new ways to pay and that will benefit from the Visa Ready Partner Program.
For financial institutions and merchants, the Visa Ready Partner Program will make it easier for them to adopt new, innovative payment methods that are approved by Visa and can help them drive business growth by expanding the use and acceptance of electronic payments globally. The program will use existing approval and certification processes from payments industry standards bodies and will rely on labs certified by EMVCo and the Payment Card Industry Security Standards Council (PCI SCC) to conduct testing of new payment solutions.
At launch, the Visa Ready Partner Program encompasses Visa’s existing program for the approval of mobile NFC-enabled devices, as well as a new program to enable mobile point-of-sale acceptance solutions that meet local requirements. In addition, Visa has developed the Visa Ready symbol to identify payment devices and solutions approved for use with Visa payments.
Visa Ready for Mobile Acceptance (mPOS) Solutions
Mobile technology is enabling merchants of all sizes to accept card payments. Used everywhere from the local farmers market to soft drink distributors, mobile devices paired with payment card readers are expanding the reach of electronic payments globally. As part of the Visa Ready Partner Program, Visa is paving the way for mPOS providers to accelerate the deployment of mobile point-of-sale acceptance solutions by:
- Defining mPOS requirements and best practices to support the open development of commercially viable solutions and services, while upholding Visa’s principles of security, brand integrity and interoperability.
- Providing applications, tools and services to enable the development of mobile acceptance solutions compatible with magnetic-stripe, EMV-chip, and contactless-card payments.
- Making available open API (Application Program Interface) and SDK (Software Development Kit) to allow mPOS solutions providers in select markets to connect to Visa via a number of payment gateways, including CyberSource and Authorize.Net, acquired by Visa Inc. in 2010.
- Providing access to documentation and resources to guide partners and vendors through the Visa approval process.
- Providing access to the Visa Ready symbol, collateral and brand-usage guidelines that can be used to market and promote Visa-approved mPOS solutions.
Visa Ready for Mobile (NFC) Payments
Mobile phones are also transforming the consumer shopping experience, allowing consumers to make purchases with a wave of their smartphone. Near Field Communication (NFC) technology, the short-range communications standard that transforms mobile phones into payment devices, is expected to reach critical mass in 2013. According to ABI Research, more than 280 million NFC-enabled devices are expected to ship in 2013.1
As part of the Visa Ready Partner program, Visa is streamlining its compliance testing process for both mobile NFC devices and secure chips that host the Visa payWave application by:
- Establishing clear guidelines for extensive technical, security and usability testing with respect to the Visa payment functionality.
- Ensuring Visa transactions initiated with NFC mobile devices are compliant with the global standard for chip-enabled payments.
- Establishing a required signal range for mobile NFC-enabled devices hosting the Visa payWave application.
- Providing NFC device manufacturers with a Visa Ready symbol that can be used to market and promote mobile devices as approved for use with Visa payWave.
Visa has played a leadership role in establishing global standards for new and emerging payment methods that are compatible with existing technology and security standards in countries around the world. The Visa Ready Partner Program will enable Visa and our partners to innovate responsibly, developing solutions that offer the same high degree of security, reliability and scale consumers have come to expect from Visa.
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 electronic payments. We operate one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 24,000 transaction messages a second, with fraud protection for consumers and assured 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 corporate.visa.com.
About Visa Europe
Visa Europe is a payments technology business owned and operated by member banks and other payment service providers from 36 countries across Europe. Visa Europe works at the forefront of technology to create the services and infrastructure which enable millions of European consumers, businesses and governments to make electronic payments. Its members are responsible for issuing cards, signing up retailers and deciding cardholder and retailer fees. Since 2004, Visa Europe has been independent of Visa Inc. and incorporated in the UK, with an exclusive, irrevocable and perpetual license in Europe. Both companies work in partnership to enable global Visa payments. 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, please visit www.visaeurope.com
1 Source: ABI Research, November 21, 2012 http://www.abiresearch.com/press/nfc-will-come-out-of-the-trial-phase-in-2013-as-28
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
Sep. 29, 2016 12:15 AM EDT Reads: 470
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Sep. 28, 2016 11:30 PM EDT Reads: 3,948
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Sep. 28, 2016 09:15 PM EDT Reads: 348
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
Sep. 28, 2016 08:30 PM EDT Reads: 1,714
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
Sep. 28, 2016 08:15 PM EDT Reads: 340
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
Sep. 28, 2016 07:00 PM EDT Reads: 1,626
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Sep. 28, 2016 06:45 PM EDT Reads: 4,152
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
Sep. 28, 2016 06:30 PM EDT Reads: 3,118
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
Sep. 28, 2016 06:15 PM EDT Reads: 303
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
Sep. 28, 2016 06:00 PM EDT Reads: 1,777
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Sep. 28, 2016 05:15 PM EDT Reads: 259
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
Sep. 28, 2016 05:15 PM EDT Reads: 264
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...
Sep. 28, 2016 05:00 PM EDT Reads: 1,725
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Sep. 28, 2016 04:30 PM EDT Reads: 2,819
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Sep. 28, 2016 03:15 PM EDT Reads: 400
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Sep. 28, 2016 03:15 PM EDT Reads: 1,316
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Sep. 28, 2016 03:00 PM EDT Reads: 3,881
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Sep. 28, 2016 02:45 PM EDT Reads: 1,747
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Sep. 28, 2016 02:30 PM EDT Reads: 2,935
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Sep. 28, 2016 02:30 PM EDT Reads: 3,339