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Visa strengthens mcommerce reach via suite of mobile services

The mobile services also let financial intuitions offer clients the ability to transfer funds between accounts and receive real time transaction alerts on their handsets. The services will be offered through Visa DPS, the issuer processor of Visa transactions in the United States.

“Visa’s strategy is to enable every financial institution that wants to bring mobile capabilities to its customers do so quickly, easily and at a reasonable cost,” said Todd Brockman, head of issuer processing at Visa Inc., San Francisco. 

“The new service is fully managed by Visa DPS and can be accessed with any mobile device, through any mobile channel and with any eligible debit, credit or prepaid Visa and non-Visa account,” he said.

“Enabling mobile services directly aligns with Visa’s global innovation strategy of accelerating the global shift to electronic payments, giving more people more ways and places to pay.”

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 digital currency.

Bank on mobile
Visa is working with Monitise on the new suit of mobile services.

Both companies have made enhancements to Visa DPS and are offering mobile services managed by Visa and can be accessed with any mobile device, any mobile channel and with any eligible debit, credit or prepaid account.

Visa and Monitise are looking at rolling out additional services in the near future that will include mobile check deposit, mobile payments and mobile offers.

Additionally, Visa and Monitise are looking to find mobile support for by Visa – Visa’s digital wallet service.

“Visa DPS customers are banks and other financial institutions,” Mr. Brockman said.

“We will support our financial institution clients as they develop communications for their account holders,” he said.

Mobile enhancements
Visa’s has been stepping up its game in the mobile commerce arena.

Last year, Google received a worldwide license to Visa payWave, which will help both companies boost mobile payment adoption.

Visa payWave lets consumers make fast and secure payments at retail locations by waving their mobile device in front of a payment terminal. The NFC-based payment technology is currently accepted at many retail locations worldwide (see story).

Most recently, Visa partnered with shopkick to reward cardholders when they pay with their Visa credit card.

Users can earn redeemable points when they link their eligible Visa debit or credit card into shopkick’s Buy & Collect program. Shopkick rewards consumers for simply walking into retail stores such as Best Buy, American Eagle Outfitters and Toys R Us (see story).