Visa To Launch Mobile Wallet In The U.S. This Fall

PC World -today announced plans to offer a service complete mobile wallet that will use Near Field Communications (NFC) and other technologies to allow people to use wireless devices to make purchases retail or whole person to person transactions.


The service, with the "click-to-buy 'feature will launch in the U.S. and Canada in the fall, Visa said in a statement. A new webcast is scheduled for later today. Visa plans to implement the system in other countries, but did not elaborate.


The largest processor of credit cards in the United States, Visa is already doing business with many U.S. banks, and will work in collaboration with several others on the digital portfolio system. Its partners in the effort include Barclaycard U.S., which had been identified as a founding member of the Isis initiative created by three major U.S. wireless carriers last fall. The transporters involved in Isis should give a wide range of wireless and NFC. A pilot system Isis is scheduled for mid-2012 in Salt Lake City. Discover Isis was the fourth card credit processor in its initial list of founding members.


Other banks and financial institutions working in the project are digital wallet Visa Pentagon Federal Credit Union, PNC Bank, Royal Bank of Canada, U.S. Bank, TD Bank and Scotiabank Group.


Visa said it would respect the multi-channel payments, which means that it will consolidate multiple PayPal accounts and non-payment of Visa that can be used in mobile electronic commerce, social networks and point of sales operations for retail .