SAN FRANCISCO, CA – Credit card giant Visa is rolling out its next installment of electronic payments and services, including a new digital wallet with ‘click-to-buy’ functionality that will be available in Canada this fall.
Visa said Wednesday that the digital wallet will store Visa and non-Visa payments accounts, support NFC payments through its payWave application, and deliver a range of transaction services to accommodate multiple commerce scenarios – including eCommerce, mobile commerce, micropayments, social networks and person-to-person payments.
"Our new solutions deliver greater consumer choice, convenience and control while helping our clients grow their businesses”, said chairman and CEO Joseph W. Saunders. “By helping to reduce abandoned on-line shopping carts and bringing new account holders into the Visa network, we create a win-win-win for merchants, consumers and financial institutions. In addition, we believe Visa’s new payments products and services will help expand financial inclusion to the billions of mobile subscribers today who currently lack access to traditional financial services."
To date the Royal Bank of Canada, Scotiabank and TD Bank Group are among the Canadian financial institutions that have pledged to support Visa’s wallet strategy.
Visa also said that it will work with financial institutions and mobile-network operators in certain emerging geographic markets with significant mobile penetration in order to provide consumers with a secure, reliable and globally accepted form of payment and the ability to transfer and receive funds, manage financial accounts or top-up wireless air time using their mobile handset.
