Visa Launches Mobile Platform.Paves the Way for Worldwide Commercial Deployment of Mobile Payments and Services LAS VEGAS Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. -- Delivering on its global mobile strategy, Visa today launched a mobile platform that lays the foundation for the commercial availability of mobile payments and services to millions of mobile users around the world. The new platform is designed to foster collaboration between the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and mobile telecommunications sectors for the delivery of mobile payment applications and payment related services. "Visa has long realized the importance of the mobile channel to the future of payments and as a medium to deliver consumer services Consumer Services refers to the formulation, deformulation, technical consulting and testing of most consumer products, such as food, herbs, beverages, vitamins, pharmaceuticals, cosmetics, hair products, household cleaners, [paints, plastics, metals, waxes, coatings, minerals, ," said Patrick Gauthier, senior vice president, innovation, Visa International. "The launch of the mobile platform is a significant industry milestone because it will enable innovative trials and go-to-market strategies for mobile payment services globally." The platform is a comprehensive suite of technology tools and applications, security standards, and business models that will enable Visa issuers and mobile operators to engage in market trials to drive product development and commercialization of mobile payment services. Informed by years of experience in the mobile payments market and developed in partnership with mobile technology companies, including handset manufacturers, chip suppliers, mobile applications developers, over-the-air (OTA (Over The Air) Refers to any wireless system such as AM/FM radio and network television that uses open space as its transmission medium. ) service providers and mobile messaging providers, the platform is both flexible and complementary to existing technologies so that it can seamlessly integrate with global wireless technology and payments infrastructures. Unlike other solutions available in the mobile application market today, the platform is designed to make it easier for Visa issuers, mobile operators and technology providers to deliver an intuitive and integrated consumer experience across a range of compelling services such as mobile contactless payments Contactless payment systems are credit cards, key fobs, or other devices which use RFID for making secure payments. The built in chip and antenna enable consumers to wave their card or fob over a reader at the point of sale. , remote payments, person-to-person payments, and mobile coupons, as well as account management services that enable consumers to better monitor account activity and manage their funds. The initial version of the platform launched today offers solutions for contactless mobile payment, OTA personalization Custom tailoring information to the individual. On the Web, personalization means returning a page that has been customized for the user, taking into consideration that person's habits and preferences. , coupons and direct marketing. Subsequent versions of the platform, to be made available later in the year, will include solutions for remote payment and person-to-person payment. This tiered launch approach enables Visa issuers and mobile industry partners to take advantage of near-term opportunities in specific markets and consumer segments now, while also building towards a complete mobile payments program that brings long-term growth and delivers value to consumers as new technologies and architectures are deployed. "In its current nascent stage, the mobile payment ecosystem is complex and presents a challenge for those considering entering this new space," said Mary Ann O'Loughlin, senior vice president, consumer practice, Ovum North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , an analyst and consulting company Noun 1. consulting company - a firm of experts providing professional advice to an organization for a fee consulting firm business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a . "By developing the mobile platform and engaging key industry stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. , Visa is leading the charge to simplify and jump-start the development of innovative mobile payment services." Visa Mobile Market Activities Visa's experience with numerous market trials around the world in a variety of different payment types, including proximity, remote and person-to-person, as well as work with a cross-section of mobile technology providers, has influenced the development of its new mobile payment platform. In addition, Visa has led efforts to encourage cross-industry cooperation and standardization through leadership roles in organizations around the world such as the Mobile Payment Forum, the Near Field Communication (NFC NFC abbr. National Football Conference ) Forum, GlobalPlatform and EMVCo. Recent Visa-led market activities leveraging NFC technology include: * U.S. - The industry's first large-scale mobile payment trial at Philips Arena For the stadium of PSV Eindhoven, see . • • in Atlanta last year. Partners included Atlanta Spirit, Chase, Cingular, Nokia, NXP Semiconductors NXP (for Next eXPerience) Semiconductors is the name for the new semiconductor company founded by Philips as announced by its CEO Frans van Houten to its customers and employees in Berlin on Thursday night 2006-08-31 and to the global media early on Friday morning , and ViVOtech. * Malaysia - Partnered with Maybank, Maxis Communications Maxis Communications Berhad is a mobile phone service provider based in Malaysia. It was started in the year 1995. It uses the dialling prefix identifier of "012", "0142" and "017". , Nokia and ViVOtech to pilot a mobile payment program. Visa knows that for the large-scale deployment of mobile payment services to be realized, there is a continued need for cross-industry collaboration. Some of the organizations that Visa has worked with to deliver on its mobile payments vision include: [TABLE OMITTED] About Visa: Visa connects cardholders, merchants and financial institutions through the world's largest electronic payments network. Visa products allow buyers and sellers to conduct commerce with ease and confidence in both the physical and virtual worlds. Visa is committed to the sustained growth of electronic payment systems to support the needs of all stakeholders and to drive economic growth. Visa products currently generate more than $4 trillion in sales volume worldwide. Visa has unsurpassed acceptance at more than 24 million locations worldwide including one million ATMs. For more information, visit www.corporate.visa.com. |
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