Both PayPal and Visa announced that the credit card service would soon be available to the platform’s merchants.
Visa and PayPal have both announced that Braintree mobile payments using merchants will soon have access to Visa Checkout. Braintree is PayPal’s payment processing company catering to online companies. Some of the more notable brands using these mobile payments include Uber, Pinterest, Airbnb and Evenbrite.
With Braintree, merchants can accept a spectrum of different types of online payment options.
The Braintree mobile payments platform lets merchants accept transactions by way of a mobile app, online and in-store. Soon, it will also include Visa Checkout as an option. In this way, Visa cardholders will be able to make a payment to these merchants using any connected device. Visa Checkout is already being used by several online merchants including Walgreens, Best Buy and Starbucks.
A statement from the credit card company pointed out that Visa Checkout will bring familiarity to Braintree mobile payments.
Visa senior vice president of digital solutions, Sam Shrauger, said “With the Visa card at the center of the payment experience, Visa Checkout brings familiarity and trust to digital shopping offered by Braintree’s customers — some of the most innovative merchants driving eCommerce and mCommerce today.” He also added that Visa is “thrilled” with their new partnership with Braintree and PayPal for improving the way credit cards work on any connected device.
Merchants in the United States will gain access to Visa Checkout through the Braintree SDK in early 2017. The seamless integration of that SDK makes it possible for merchants to enable new buying experiences and payment options. At the moment, there are 14 million consumer accounts with Visa Checkout as well as thousands of merchant accounts.
This new agreement between PayPal and Visa has arrived at a time when some of the heat has eased in the rivalry between the two companies. They announced a strategic partnership in July. That brought the largest global payment network together with the biggest digital payments network. With Braintree mobile payments there will be improved choice for consumers paying with PayPal accounts. The companies feel this is taking them both “on a new path.”
This wearable technology saw its debut at the Rio 2016 Olympics and was worn by athletes there.
The NFC Ring has been attracting interest since its original crowdfunding by way of Kickstarter. It has finally made its debut, which occurred at the Rio 2016 Olympics. Olympic athletes wore the wearables enabled with near field communication technology. This made it possible for them to pay for their purchases using their Visa accounts.
Now, these wearable technology devices are available for the rest of the public to pre-order.
The NFC Ring works through near field communication technology. This means that it can be tapped against NFC readers in-store to pay for purchases. The tech is now available for pre-order and has a price tag of about $53. The user must choose his or her ring size in order to make sure it will fit his or her hand. The first wave of shipments are expected to begin in December. That said, while it is equipped with the technology for mobile payments it’s important to note that the relationship with Visa was limited to the test with the Olympians.
The NFC Ring payments technology is getting ready for widespread use.
NFC technology is a much shorter range of wireless communication than Bluetooth or WiFi. This means that a mobile payments transaction can’t be completed unless the wearables are waved immediately over the reader or are tapped together.
Many of the largest mobile wallets use this technology. This includes Apple Pay, Android Pay and many others launched by credit card companies and even retailers. The new wearable technology is among the first to provide a device other than a smartphone or smartwatch for mobile payments.
This specific project began with Kickstarter around three years ago. It has been carefully watched by the tech community and consumers alike. This marks its first release for public purchase. It is sold in black and white ceramic color options. The design is such that it appears to be a regular ring instead of some form of technology.
Aside from mobile payments, the NFC Ring can also be used with near field communication enabled smartphones and tablets to unlock them without the need for a password or passcode.
* Correction – this article was altered on August 27, 2016. It had previously inaccurately implied that the relationship between Visa and the NFC Ring extended beyond the test among the Olympians in Rio 2016.
Visa senior vice president of digital solutions, Sam Shrauger, said “With the Visa card at the center of the payment experience, Visa Checkout brings familiarity and trust to digital shopping offered by Braintree’s customers — some of the most innovative merchants driving eCommerce and mCommerce today.” He also added that Visa is “thrilled” with their new partnership with Braintree and PayPal for improving the way credit cards work on any connected device.