Accelerates the deployment of innovative payment solutions globally
Enables financial institutions and merchants to take advantage of new
payment technologies, such as mobile NFC payments, mobile
point-of-sale acceptance solutions
- Visa Ready symbol will identify new payment devices and
solutions approved by Visa
FOSTER CITY, Calif. -- (Business Wire)
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
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 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
- 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
- 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
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
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