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From Internet-Connected Devices to Secure Commerce Vehicles

New tokenization services will strengthen payment security and spur commerce innovation

According to Forrester Research, in 2014 commerce initiated with mobile phones and tablets is expected to total $114 billion in the U.S. alone. Two-thirds of those sales will happen via tablet computers, while the remainder will occur on mobile phones. 

Recognizing this, today we are announcing the creation of Visa Digital Solutions, a comprehensive suite of offerings that facilitate secure payments across a broad range of mobile and Internet-connected devices and wearables. 

Visa Digital Solutions provides the standards, tools and services to turn any Internet connected device into a secure vehicle for commerce. Smart phone manufacturers can securely load a Visa account within a device, merchants can directly embed Visa payment functionality into their mobile apps, and financial institutions can offer mobile and online payments as part of their mobile banking applications.

Visa Digital Solutions fall into two main categories: 

1. Support for New Payment Methods 

Making a purchase with a mobile device at a physical retailer or online is becoming commonplace, particularly in countries with a high penetration of smartphones. Visa is extending its support for mobile payments to enable retailers, financial institutions, and developers to create new ways to pay via smartphones.

  • Wave-to-pay: Visa recently published a software development kit (SDK) to make it easier for merchants, financial institutions and application developers to embed Visa payWave, Visa’s mobile payment technology into their mobile applications. Issuers now have the option to host the Visa account information in a virtual cloud or in a secure chip on the mobile device.
  • Scan-to-pay: In June Visa published an initial specification for presenting Visa account information in the form of a Quick Response (QR) code. The specification provides retailers with a new, secure option to accept a Visa payment by simply scanning a QR code on a smartphone screen.
  • Click-to-pay: Last week Visa announced the launch of Visa Checkout, a quick and easy payment service that enables consumers throughout the United States, Canada and Australia to pay for goods online, on any device, in just a few clicks. Visa’s application programming interfaces (APIs) for Visa Checkout are available to merchant developers, as well as SDKs for in-app payments. 

2. Technology That Protects Consumers and Supports Industry Innovation

As the number of online and mobile transactions has increased, so has the need to protect consumer payment account information. In September, Visa will introduce an innovative tokenization service that strengthens payment security while facilitating industry innovation. The new Visa Token Service enables:

  • Consumer Protection: Tokens replace the 16-digit account information found on plastic cards with a numeric substitute, facilitating payment transactions without sharing sensitive account information.
  • Industry Innovation: Tokens can be stored directly in mobile devices, online ecommerce applications and cloud-based mobile applications, which will spur new commerce experiences.
  • Restricted Use: Tokens can be limited for use with specific merchants, mobile devices or types of purchases.
  • Convenience and Cost Effectiveness: Tokens linked to lost or stolen mobile devices can be instantly reissued without changing account numbers or reissuing plastic cards.
  • Easy Processing: Tokens are based on existing ISO standards and can therefore be processed and routed by merchants, acquirers and issuers like traditional card payments. 

Many offerings within the Visa Digital Solutions suite are available today, with the full range of capabilities expected to be commercially available in the U.S. by January 2015, and global rollouts throughout the year. Visa Digital Solutions will initially be available through the Visa Ready program, which provides innovators a path for the certification of devices, software and solutions used to initiate or accept Visa payments. 

We will also launch an extended Developer Center in early 2015, providing product specifications, APIs, SDKs, as well as implementation guidelines for financial institutions, merchants and third-party payment providers.  

Yours in innovation,

Sam Shrauger

SVP, Digital Solutions, Visa Inc.

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Visa Checkout: eCommerce at the Speed of “Swipe” 

By Sam Shrauger, SVP, Digital Solutions

Quick and easy are two words not normally associated with online shopping – or at least the “paying” part. Today, we are setting out to change that perception with Visa Checkout, a new and easier way to pay online, on any device, with just a few clicks.

Consumers are already using their Visa cards online in mass numbers – just under 50% of all eCommerce spending in the United States is done with a Visa product*. But while eCommerce grows at a steady pace, the online checkout experience continues to be a consumer pain point, with shopping cart abandonment rates as high as 68%. And as screens become smaller, the problem becomes even more pronounced, with 86% of mobile users giving up before checking out**.  

It shouldn’t be this hard. Visa Checkout is designed to bring the ease and security our customers know and love to the online world by enabling you to pay with just a username and password. No matter whether you make a purchase from a desktop, mobile device or within a mobile app, you can pay without ever leaving a merchant site – just as if you’re in a retail store. 

Sign-up is easy and we’re launching with some of the web’s biggest merchants ranging from Pizza Hut and Neiman Marcus to Staples and United Airlines, with more than 100 other merchants you know and love like 1-800-FLOWERS®, Jos. A. Bank, Live Nation, lululemon athletica,, Newegg,, Teleflora, Ticketmaster, TigerDirect and Wine Enthusiast. 

More than 180 of our banking partners throughout North American and Australia, including Bank of America, BB&T, Chase, Citi, Navy Federal Credit Union, PNC, US Bank and Wells Fargo, are all also participating in Visa Checkout. For a complete list, click here.

In addition to starting to see Visa Checkout on many of your favorite merchant and banking websites, we’re launching a national advertising campaign that will be hard to miss. Stay tuned for more on that soon. 

Simply put, Visa Checkout is your Visa card for the digital world and we’re thrilled to offer it to consumers throughout the U.S., Canada and Australia today. We hope you love it as much as we do.

Sam Shrauger

SVP, Digital Solutions

* Source: U.S. eCommerce Market Share, Q1 2014, comScore

** Source: Shopping Cart Abandonment, February 2014, eMarketer

(via apvisaeditor)

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Welcome to the Easier Way to Pay Online

By Charlie Scharf, CEO

Today we open the doors to One Market – our new innovation hub in San Francisco that demonstrates Visa’s commitment to an increasingly connected world, where commerce can literally take place “everywhere you want to be.”

Today we open the doors to One Market – our new innovation hub in San Francisco that demonstrates Visa’s commitment to an increasingly connected world, where commerce can literally take place “everywhere you want to be.”

For Visa, One Market is more than a street address.  Dee Hock, Visa’s founder, set out to create a payments ecosystem – One Market where payments can travel seamlessly, securely between consumers, merchants, and financial institutions, no matter the place, the currency or the language.

Many of us already live in a world where making a Visa payment is no longer limited to a plastic card at a physical retailer, but possible everywhere – phones, kiosks, subways, buses, at farmers markets – anywhere there is a need to exchange value.

But this is just the beginning.  New technologies, especially mobile, are having a profound impact in the way we will shop, pay and be paid in the future.  According to recent studies, more than 30 billion connected devices will be wirelessly connected to the “Internet of Things”.  Visa’s role is to ensure that every Internet connected device, appliance or wearable computer, can become a secure place for commerce.  Our goal is to enable even more innovative experiences where the majority of payments take place seamlessly online or through a mobile device.

We see a world where making a payment is integrated into every day mobile applications. A taxi ride, ordering Pizza, etc.

Our new office, One Market, houses more than 500 Visa technology experts and developers to deliver on this vision. The first of which we also unveiled today – Visa Checkout.  Simply put, Visa Checkout is your Visa card for the digital world. Head here for more details from our senior vice president of digital solutions, Sam Shrauger.

We will also continue to partner with some of the largest and most innovative companies around the world who are creating new commerce experiences for their customers.

Today also marks the launch of this new tumblr – Tech Matters. This is where we’ll share more details around the outcomes of these partnerships and our own innovations that have made Visa so successful for the last 50 years and what will keep our company successful for the next 50.

I am excited for our next phase and I hope you enjoy taking this journey with us.

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Step Inside Visa’s new San Francisco Office

Visa’s new “One Market” location in San Francisco is designed to foster collaboration among Visa technologists, clients and a growing global marketplace of payment innovators and developers. 

One Market Center comprises four distinct spaces:

  1. With comfy chairs and floor-to-ceiling presentation screens, the client briefing room is not just another conference room. It’s a space where visitors will talk about their challenges and priorities, then lean back as we share compelling, relevant stories about Visa’s products and capabilities that align with their needs. The nine-by-16-foot, custom-built, interactive Prysm video wall will bring these stories to life.
  2. The studio is outfitted with the latest point-of-sale, online and mobile payments technology and can be configured to represent a retail environment in an established or emerging market or a variety of other places. This fully digital space is built to demonstrate the power of the Visa network and innovative payment experiences around the world.
  3. The collaboration space is a room built for active brainstorming and developing action plans with our visitors. Every wall is a white board, and six projectors can display work in progress.
  4. The incubator is the place for rolling up sleeves and getting down to work. It’s designed for developers to quickly prototype and iterate on ideas. Supported by a state-of-the-art computing and data visualization infrastructure isolated from the Visa corporate network, Visa and our partners can jointly create capabilities for new business models, products and services.

View the Google360 Tour

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Everywhere You Want To Be - Visa’s FIFA Partnership

Forbes shares an article focused on Visa’s FIFA partnership, and the imperative to produce a unified, global campaign that taps into consumer passion.

Read the full article on Forbes here.

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Cannes CMO Interview with Kevin Burke

Jennifer Rooney of the Forbes CMO Network sat down with our CMO, Kevin Burke to discuss the value of the World Cup platform, mobile and the kind of content that best spurs brand engagement.

Watch the interview here.

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Group Stage Host Cities For 2014 FIFA World Cup Brazil See Significant Spend By Travelers

Today Visa released the second installment of the Visa Everywhere Travel Report for the 2014 FIFA World Cup BrazilTM.

The report, which analyzes travel data and spending through the use of Visa credit, debit and prepaid cards, found that some smaller Brazilian cities, which are hosting tournament games, realized some of the most significant increases in spending by international travelers.

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