At launch, the Visa Ready Partner Program encompasses Visa’s existing program for the approval of mobile NFC-enabled devices, as well as a new program to enable mobile point-of-sale acceptance solutions that meet local requirements. In addition, Visa has developed the Visa Ready symbol to identify payment devices and solutions approved for use with Visa payments.Visa Ready for Mobile Acceptance (mPOS) Solutions Mobile technology is enabling merchants of all sizes to accept card payments. Used everywhere from the local farmers market to soft drink distributors, mobile devices paired with payment card readers are expanding the reach of electronic payments globally. As part of the Visa Ready Partner Program, Visa is paving the way for mPOS providers to accelerate the deployment of mobile point-of-sale acceptance solutions by:
- Defining mPOS requirements and best practices to support the open development of commercially viable solutions and services, while upholding Visa’s principles of security, brand integrity and interoperability.
- Providing applications, tools and services to enable the development of mobile acceptance solutions compatible with magnetic-stripe, EMV-chip, and contactless-card payments.
- Making available open API (Application Program Interface) and SDK (Software Development Kit) to allow mPOS solutions providers in select markets to connect to Visa via a number of payment gateways, including CyberSource and Authorize.Net, acquired by Visa Inc. in 2010.
- Providing access to documentation and resources to guide partners and vendors through the Visa approval process.
- Providing access to the Visa Ready symbol, collateral and brand-usage guidelines that can be used to market and promote Visa-approved mPOS solutions.
- Establishing clear guidelines for extensive technical, security and usability testing with respect to the Visa payment functionality.
- Ensuring Visa transactions initiated with NFC mobile devices are compliant with the global standard for chip-enabled payments.
- Establishing a required signal range for mobile NFC-enabled devices hosting the Visa payWave application.
- Providing NFC device manufacturers with a Visa Ready symbol that can be used to market and promote mobile devices as approved for use with Visa payWave.
About Visa Inc.Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 24,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit corporate.visa.com. About Visa Europe Visa Europe is a payments technology business owned and operated by member banks and other payment service providers from 36 countries across Europe. Visa Europe works at the forefront of technology to create the services and infrastructure which enable millions of European consumers, businesses and governments to make electronic payments. Its members are responsible for issuing cards, signing up retailers and deciding cardholder and retailer fees. Since 2004, Visa Europe has been independent of Visa Inc. and incorporated in the UK, with an exclusive, irrevocable and perpetual license in Europe. Both companies work in partnership to enable global Visa payments. As a dedicated European payment system Visa Europe is able to respond quickly to the specific market needs of European banks and their customers - cardholders and retailers - and to meet the European Commission’s objective to create a true internal market for payments. For more information, please visit www.visaeurope.com 1 Source: ABI Research, November 21, 2012 http://www.abiresearch.com/press/nfc-will-come-out-of-the-trial-phase-in-2013-as-28