The collaboration enables consumers to make mobile Visa payWave transactions at any retail location that accepts contactless payments. Trials are scheduled to begin in the second quarter of 2010. The collaboration aligns with Visa’s mobile strategy to extend the reach of its global network to bring mobile payments and related services to consumers around the globe.
Visa’s global transactions processing network VisaNet and its contactless payment technology play a critical role in securely processing transactions initiated with the In2Pay solution, providing real-time fraud monitoring and encryption technology that work in concert to prevent counterfeit fraud and ensure that mobile initiated Visa transactions are as secure as all Visa payments.
The In2Pay solution conforms to the industry standard for memory chips microSD and fits into the memory card slot found in many existing mobile devices in market today. In2Pay integrates with multiple mobile phone operating systems, enabling a flexible application interface and interactivity with the consumer. In2Pay uses an onboard software controlled antenna and an industry standard dual interface contactless smart card chip that supports Visa payWave, as well as other contactless applications popular with consumers such as transit, identification and access control.
Dave Wentker, head of mobile contactless payments at Visa, said: “Visa’s goal is to develop innovative ways to bring the value of Visa digital currency to mobile users around the globe. Through our collaboration with DeviceFidelity, Visa is helping to accelerate the adoption of mobile contactless payments and pave the way for the global deployment of NFC-enabled devices.”
Deepak Jain, CEO of DeviceFidelity, said: “We’re committed to helping the industry unlock the true promise of the mobile phone and deliver a new wirelessly connected payment offering that is faster, more secure, and more convenient than traditional forms of electronic payment. We are excited to be working with Visa, the leading brand in payments, to make mobile payments a reality in countries around the globe.”
In addition to DeviceFidelity, Visa said that it is also working with other technology providers and strategic alliance partners to test and deploy the mobile contactless payment technology, including CPI Card Group, Inside Contactless, Monitise and NXP Semiconductors.
