Visa launches platform for digital payment innovation
Written by Hannah McGrath
Visa has launched a new platform with beta Application Programming Interfaces (APIs) and development tools to help issuers and issuer processors build and test new digital payment products.
The platform will be available to the payment giant’s clients and partners via Visa Next, a new location for accessing new solutions in its product pipeline.
The APIs will let users create new digital card accounts, add newly issued or existing cards to create solutions combining a number of Visa digital services, activate and tokenise digital accounts for use in e-commerce and mobile wallets, enable mobile devices for contactless or QR payments, among other options, such as card controls and spending limits.
Clients and partners can give their customers an option to turn their wallet balance into a digital Visa card on their mobile device, and begin transacting in over 200 countries and territories, at 53.9 million merchant locations where Visa is accepted.
Sam Shrauger, senior vice president for global issuer and consumer solutions at Visa, said: “In an era where consumers expect to configure and control digital experiences to match their specific needs, Visa should empower them to do the same with their money.
“By helping re-imagine how money is used in a digital age and by making new services available through Visa Next, we are going to unlock new ways for partners and clients to interact with Visa and bring to life the next generation of digital-first payments products to meet those unique needs of consumers worldwide.”