Advertisement

Visa Partnerships Target Merchant Services and Mobile 

Feb. 28, 2013

Visa this week signed partnerships with the largest credit-card issuer in the U.S. and the largest smartphone manufacturer in the world. On Tuesday, Visa said it has partnered with JPMorgan Chase to form Chase Merchant Services. The new venture, which the companies said will launch by the end of this year, will create a processing platform for Chase merchant clients leveraging Visa’s VisaNet network. The platform will process transactions initiated with JPMorgan Chase-issued Visa cards at merchants that JPMorgan Chase enrolls in Chase Merchant Services. For its part, the issuer will shift more of its credit and debit cards to Visa, driving more transactions to VisaNet.

“We look forward to expanding our partnership with JPMorgan Chase and further driving the migration to electronic payments by offering superior and unique value to merchants and cardholders,” said William Sheedy, group president, Americas for Visa Inc. “As technology drives the evolution of the payments industry there are more opportunities to deliver value for merchants and cardholders at the point-of-sale.”

A day earlier, Visa announced a partnership with smartphone manufacturer Samsung it said could pave the way for widespread adoption of mobile payments. Under the agreement, Samsung customers will be able to download payment account information securely to their devices using the Visa Mobile Provisioning Service and Visa’s payWave app will come preloaded on Samsung devices enabling NFC-based contactless mobile payments at merchants equipped with Visa payWave terminals.

“Samsung devices enabled with Visa payment functionality will no doubt be a powerful product offering – especially in markets where paying with a mobile device is becoming commonplace,” said Jim McCarthy, global head of product at Visa Inc. “However, the key to making mobile payments broadly available all over the world is to offer financial institutions a secure way to provision millions of smartphones with payment account information—and that is exactly what Visa and Samsung are ready to deliver.”


  • China Weighs in on N.Y.'s Proposed Bitcoin Regs - Aug. 28, 2014
    China Weighs in on N.Y.’s Proposed Bitcoin RegsCEO's of the three  largest digital-currency exchanges in China sent a joint  letter to Benjamin Lawsky, superintendent of the New York Department of  Financial Services (NYDFS), last week, noting that the outcome of New York's  decision on Bitcoin will serve as a model for "regulators around the world."

Advertisement


  • Oberthur Acquires NagraID - Aug. 21, 2014
    Oberthur Acquires NagraIDFrench smart-card manufacturer Oberthur Technologies on Tuesday announced an acquisition that will enable the company to address card-not-present fraud, which is expected to surge as EMV chip payment cards replace magstripe cards.
  • Rumor: Braintree Exploring Bitcoin - Aug. 18, 2014

    Rumor: Braintree Exploring Bitcoin

    Published reports indicate Braintree, the online and mobile payments provider acquired by eBay last December, is in talks with bitcoin-acceptance providers that would enable the PayPal unit to process bitcoin transactions for its merchants.

  • Canadian Bitcoin Processor Nets $8.5 Million Round - Aug. 11, 2014

    Canadian Bitcoin Processor Nets $8.5 Million RoundVogogo, a Canadian e-commerce processor based in Calgary, said last week it has secured an $8.5 million round of financing that will enable it to expand its recent success in processing bitcoin and other cryptocurrencies in Canada to the U.S. and other countries around the world.

  • Twitter Continues to Test Payments - Aug. 11, 2014
    Twitter Continues to Test PaymentsIt appears Twitter’s plans to implement a payments function are continuing. Reports from multiple users indicate the presence of a “Payments and Shipping” option in the settings of Twitter’s Android mobile app.
  • Bitcoin Gets a Voice in Washington - July 21, 2014
    Bitcoin Gets a Voice in WashingtonAt a conference in Chicago on Saturday, the first Bitcoin trade association that will employ full-time lobbyists in Washington, D.C. launched with the aim of swaying legislators and educating consumers and merchants on the digital currency.
  • SafetyPay Joins Alpha Payments Cloud ‘Hub’ - July 7, 2014
    SafetyPay Joins Alpha Payments Cloud ‘Hub’Alpha Payments Cloud, a Dublin, Ireland-based company that connects acquirers, merchants and technology providers in one place where they can buy and sell the payments services needed by the entire ecosystem, has added SafetyPay to its roster of providers.

Advertisement

 

 

Sign Up Today Free

Receive the twice weekly CNP Report and monthly feature articles providing in-depth examinations of global CNP issues.

Please take a moment and register.
* First Name:

* Last Name:

* Password:

* Confirm Pwd:

* Email:

* Category:

Company:

 
Captcha
Answer:

 

 

CNP Archive

Researching companies or people in the CNP industry? Search our past coverage for targeted news and information.

Search here