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 .

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Carriers Do Not Correspond With Credit Card Companies Mobile Payments: Report

Isis, in collaboration with mobile payments started a joint venture with three major telecom operators in the United States is scaling up its efforts to compete with the credit card industry.

Created in a joint effort by T-Mobile, Verizon and AT & T, Isis was the first to allow customers to pay for purchases in stores with their smartphones, with a network of credit card payments independent company. Purchases and account information have been handled by the companies.

Instead Isis now look a little lower. According to sources who spoke to The Wall Street Journal, Isis is currently working to produce a kind of "mobile wallet". Customers will continue to use their smart phones to make purchases, but rather an independent payment network operated by airlines, telephones use your credit card information available.

"Visa and MasterCard are also universal at this stage that the barriers to entry for new payment system is almost insurmountable," IDC analyst Aaron McPherson said in an interview with Wired.com last year. Isis had previously claimed Using Discover Financial Services for the launch of the payment system of the joint venture. But is Visa or MasterCard, Discover, and merchants were not enthusiastic about the idea of ​​cutting the two giants.

And why should they? There's really no reason to reinvent the wheel, just to create an enabling technology, which operates the parties who are already working and do better. The point is to replace a wallet full of cards, create new maps.

Isis is currently in negotiations with Visa and MasterCard to negotiate the agreement that the card information will be integrated into smartphones customers, sources said the magazine.

With the proliferation of NFC-enabled smartphones like the Samsung Nexus Future Galaxy S S 2 and Research In Motion BlackBerry Bold, companies are struggling to become mobile payments space. Google is working on its own mobile phone payment system, Visa and Mastercard, which has been studied in four major markets in the coming months.

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