How #Visa Plans To Dominate #Mobile #Payments, Create The Digital Wallet And More | TechCrunch

Creating the digital wallet, both on the mobile and web platforms, is no easy task. Visa has a name for itself in the credit card industry but the fact is that the brand still has to attach innovation to itself in order for people to take these products seriously. Perhaps that’s one of the reasons why Google’s Mobile Wallet news created waves, even though NFC technology is in its early stages.

Visa competitor American Express is also working hard to innovate both at the large retailer level, as well as among smaller retailers, with GoSocial.

While Visa, American Express and others are looking to capitalize on the changes taking place in the payments industry, it is a challenging effort. Local commerce is a big part of this, and everyone is trying to find a way to close the redemption loop. But e-commerce, amongst larger retailers, is also a multi-billion dollar market that Visa hopes to continue to play in with products like a digital wallet. And in-store payments, whether that be through NFC, Square or others, represent another market.

I’ve been talking to a number of executives of payments companies and founders of innovative payments startups, and while their objectives are different, they all seem to agree on one thing. It’s early and there is still much more innovation were going to see in the next few years in the online and mobile payments space.

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via techcrunch.com

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Visa Announces P2P Payment Service for U.S. Customers

Credit card giant Visa announced a new peer-to-peer payment service today that will soon give its U.S. customers the ability to receive and send money from their Visa accounts. The new personal payments service moves Visa's focus away from being just a handler for point-of-sale transactions and takes aim at an area that has long been dominated by PayPal.

Visa's announcement includes a partnership with CashEdge and Fiserv, two person-to-person financial transactions companies, which will now have access to VisaNet, the company's payment processing network.

via readwriteweb.com

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