Items tagged with VISA

The unveiling of Apple's next iPhone is expected to take place next Tuesday, but despite that, the rumor train surrounding the device refuses to slow down. Late last week, we reported that the iPhone 6 could include an NFC chip under its hood, and as far as many Apple fans are concerned, that's long overdue. Now, we learn that Apple's possible payments system could involve something called "iPhone Wallet". In preparation for iPhone Wallet, it's being said that Apple has teamed up with American Express, MasterCard, and Visa, with some rumors also tossing PayPal into the mix. With iPhone Wallet,... Read more...
Samsung is most certainly winning the Android war in terms of market share, profit share, and mind share. In fact, it's getting tougher and tougher for those other Android OEMs to make a dent in the market, with Samsung spending billions each on marketing alone. Needless to say, we suspect that Visa is pretty pumped about this new agreement. It's an expansion from the deal the two nailed down in time for the London Olympics in 2012, now branded as a "global alliance" that'll bring Visa's payWave app to future Samsung mobile devices with NFC chips in them. As mobile payments continue to become more... Read more...
After what's being described as a "massive data breach" at Global Payments, Visa has decided to part ways with the payment processor and try its luck elsewhere, Global Payments CEO Paul Garcia said, according to a report in the Associated Press. MasterCard, meanwhile, is either willing to give Global Payments the benefit of the doubt that this was a one-time snafu, or hasn't yet announced plans of its own to the ditch the payment processor. Garcia described the situation as being "absolutely contained" at this point, however as many as 1.5 million credit cards across the United States may have... Read more...
As you head into the weekend getting ready to party and celebrate the end of another long and grueling work week, take some time to keep tabs on your MasterCard and Visa accounts. If you don't, you could be in for a rude awakening when you go to pay for drinks and find out that your card has been declined. At issue here is a what's being described as a "massive" data breach at a U.S.-based credit card processor, according to KrebsOnSecurity.com.Visa and MasterCard have both been sending out non-public alerts giving banks a heads up that specific cards -- possibly more than 10 million -- may have... Read more...
Mobile payments are quite clearly riding the wave into the future, and with Google Wallet taking charge on just a few phones, there's plenty of opportunity for others to come in and steal some of that pie. Visa has recently begun the certification of smartphones for use as Visa Mobile Payment Devices. In particularly, 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 payWave will support the Galaxy S II, LG Optimus NET NFC, BlackBerry Bold 9900, Bold 9700... Read more...
What's needed to really get people hooked on contactless payments? Lots and lots of industry support. Google Wallet has set the bar for what's possible with NFC in the smartphone, and now Visa is making a play to expand their own reach for when the time comes to take advantage. The company recently acquired South African firm Fundamo, with the purchase costing Visa a staggering $110 million. Separately, a 5-year deal with UK-based Monitise will help it "grow the new technology-enabled payments business." Since Visa's currently outside of the Google Wallet loop (and instead is taking part in ISIS),... Read more...
It's finally happening. Well, maybe we should rephrase that. It's finally happening in America. NFC payments, as well as other contactless options, have been all the rage in places like Japan for years now, with many cellphones having these chips embedded in them, enabling consumers to pay for metro rides and groceries with a swipe of their handset. It's a brilliant idea that would greatly simplify life for those sick and tired of fiddling with credit cards. But for whatever reason, the concept has had a very difficult time taking hold in North America. Finally, it seems that's changing. The Samsung-built... Read more...
Is mobile payment the future? It might be. Samsung's Nexus S is already equipped with NFC, a common protocol for mobile payment systems. And now, Visa and DeviceFidelity could be delivering similar support to phones that lack an NFC module from the factory. The two companies today the commercial availability of mobile contactless payments enabled by DeviceFidelity's In2Pay microSD solution. This means that any smartphone with a MicroSD card slot could, in theory, make mobile payments. It's a great aftermarket solution that brings existing smartphones into a universe where mobile payments are the... Read more...
Location-based services and GPS can be used for a number of things, but have you considered them being used for fraud prevention? That's an idea just announced by Visa Europe. It's pure common sense: the assumption is that if the smartphone and your credit card are in close proximity, you are most likely using the card, even if you normally live in Belgium and are showing up in New York City. In partnership with a company named ValidSoft, Visa Europe is looking into the idea.  If things work as planned, there will be less false positives where a credit card company thinks "someone else" has... Read more...
Visa helps a lot of people buy a lot of stuff: $1 trillion dollars annually. They're currently testing a payment system, along with Wells Fargo Bank, that allows its customers to make payments using their mobile phones. Such payment methods are already common in Japan and South Korea.  Using "account-level processing," Visa's payment-processing system now manages transactions in real time using the entire 16-digit credit card number, rather than the six-digit bank identification number that had been used. The change lets consumers carry their account numbers with them if they move to more... Read more...