Category: Mobile Payments

Amazon has successfully acquired Emvantage Payments

Amazon is looking to compete for the favor of India’s mobile shoppers and has announced the acquisition of Emvantage Payments. The company specializes in payments, allowing online merchants to accept credit and debit card transactions. The company also supports mobile payments, something that Amazon has become very interested in over the past few years. India is one of the world’s fastest growing mobile commerce markets and merchants throughout the world are looking to establish a strong foothold in the country.

Emvantage will continue to help merchants connect with mobile shoppers

Emvantage allows merchants to connect with consumers more easily. Amazon believes that its acquisition of Emvatage will allow the company to accelerate the development of new e-commerce services in India. Emvantage employees will be incorporated into Amazon’s payments team, which will develop products and solutions that are specific to the needs of Indian mobile shoppers. Demand among these shoppers for convenient and secure services has been growing, especially due to the advent of mobile commerce.

The e-commerce space is slated to see strong growth through 2020

According to Amazon, India will be the world’s largest market after the United States within the next 10 years. This represents trillions of dollars of opportunity for Amazon and other e-commerce companies. The e-commerce space is expected to reach $137 billion in revenue by 2020, considerably higher than the $11 billion in revenue that was reported in 2013. One of the factors that will influence this growth is the availability of mobile payment services, which will allow more consumers to shop online and in physical stores efficiently.

Amazon may face significant competition in the mobile sector

Amazon is working to compete with some of the largest e-commerce companies in India, which have begun to focus on the mobile sector. Mobile consumers have proven to be quite enthusiastic when it comes to online shopping and smartphone penetration is growing quickly throughout the country. As this trend continues, more consumers are likely to take advantage of mobile payments services that allow them to purchase products online.

The credit card giant has launched its Visa Developer, providing access to some of its top transaction tech.

Visa has now announced that it has launched a new platform called Visa Developer, which provides access to some of the credit card giants most popular traditional and mobile payments services and technologies.

This new release provides access to a range of tech and services, and promises that more are coming soon.

This will include access to person-to person mobile payments capabilities, account holder identification, online payment services (like Visa Checkout), secure in-store payment services, as well as consumer transaction alerts and even currency conversions. The credit card company has confirmed that it will be opining up its payment capabilities access even more as 2016 progresses.

The Visa Developer platform for online and mobile payments has been in its beta phase for several months.

There have been several companies that have come up with prototype mobile wallet apps based on the use of the Visa Developer platform. Among them have included: National Australia Bank, Emirates NBD, CIBC, Scotiabank, RBC, TD Bank, VenueNext, U.S. Bank, TSYS, and Capital One. This platform works by turning Visa’s various payment services and products into a mobile app programming interface (API).

Among the key features of the platform include:

• That it is a developer portal available around the world.
• It provides ways to search through the payment products and services at Visa.
• It offers sample code, documents, community interactions, reference apps, customer support, blogs and announcements.
• There is a testing sandbox through which a plug and play experience can be used by developers and to allow data to be tested by Visa.
• It is an open platform that allows hundreds of Visa SDKs and APIs to be accessed for some of the most popular products and capabilities the company has to offer.

Developers are able to use this platform to create online and mobile payments workflows such as push payments, peer-to-peer payments, merchant checkouts and even secure transactions through the use of tokenization. Mobile commerce, bill payments, and domestic/international remittance, among others, can also be created through Visa Developer.