New Era of Electronics & Gadgets, Visa Dominates Mobile Payment Plan


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This article provides the big evolution in electronic and gadget market- Visa dominates the mobile and digital payments with two advantages of Mobility and Digitization.

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New Era of Electronics & Gadgets, Visa Dominates Mobile Payment Plan

  1. 1. New Era of Electronics & Gadgets, Visa Dominates Mobile Payment Plan<br />29337002076450Mobile and Digital Payment have been acceptable and available in people’s daily life. When purchasing merchandises in supermarkets and even take subways in stations, you commonly come across some cool customers paying by their mobile phones like your credit cards. Don’t be surprised by this action, you can make it soon and a special revolution in payment field has started. Take Visa for instance. Visa has made a number of major moves in the mobile and digital payments space of late; including making an investment (and taking on an advisory role) in disruptive startup Square, buying virtual goods payments platform PlaySpan for $190 million, and acquiring mobile payments company Fundamo for $110 million. Here let’s share with you how visa dominates the mobile payment and digital payment plan. <br />Mobility<br />The Visa’s Global Head of Mobile Product Bill Gajda explains one of the prongs to Mobile Payment Strategy- NFC (Near Field Communication), which occurs on payments using an electronic and gadget like mobile phone at a physical store. For background, NFC (near field communications) enables people to make transactions, exchange digital content and connect electronic devices with a simple touch. As we’ve seen with Google Wallet, Android phones such as the Nexus S are being built with NFC chips, making your cell phone a mobile wallet. Visa recently joined the ISIS network, a NFC mobile payment network that is a joint venture formed by AT&T, T-Mobile and Verizon. ISIS will soon launch in a number of markets, including Utah and Texas. While there is someone not being fond of NPC like eBay CEO John Donohoe, who maintains NFC is nothing with business. Though many compliments are granted to NFC, Gajda tells, “I think for some people NFC will replace the actual physical credit card but it will be a long time before NFC replaces all payments.”<br />Digitization <br />Visa’s digital payments guru Schulz outlined her strategy for digital payments at the company, which centralizes around the creation of the digital wallet. Schulz says that because of the fact that e-commerce is being more easy and convenient with customers, especially with m-commerce, the underlying payments infrastructure has to evolve.<br />And Visa’s answer to this is a new digital wallet initiative. Here’s how it works. Users will have an account, and they can add their credit card numbers (and cards from other credit card companies such as American Express and MasterCard). Visa is partnering with a number of financial institutions to offer this product to their customers. Users can also load their loyalty points and rewards cards, as well as organize their shopping lists. Schulz describes it as a “wallet in the cloud.” But she says the key to the success of the wallet is a seamless, one-click payments experience for the consumers. So Visa has partnered with a number of large-scale retailers (which will be announced soon) to integrate what Schulz refers to as a ‘new acceptance mark’ on a merchant payments page.<br />All in all, though Visa should be a huge turkey longing by many electronic and gadget ( ) companies, it still contains much unexpected challenges. No matter what, mobile payment, as one of the most prominent evolution in electronic and gadget market, has been popular by thousands of hundreds of gadget fans, which may be achieved in the professional supplier of retailing electronics- <br />