Tag: visa token service

Vehicles could be the next great mobile payments platform

| March 3, 2016

Honda believes that cars could have a place in the mobile commerce space

Cars may soon be the world’s next big mobile payments platform, according to Honda. The Japanese automaker has partnered with Visa to demonstrate a new payment service at the 2016 Mobile World Congress. During the event, Honda showed that applications could be embedded in a vehicle’s infotainments systems, which could then be used to make purchases. This may become quite popular among consumers, as it would allow them to make purchases without having to leave their cars.

Visa is making progress in making mobile commerce more accessible

Visa has been working on ways to streamline the way people participate in the mobile commerce space for some time. Over the past few years, the organization has managed to make it easier for consumers to make simple purchases. The company has also helped make mobile payments more secure through the Visa Token Service, which replaces consumer financial information with digital tokens that can be used to authenticate transactions. Together, Visa and Honda have developed a new proof of concept service that would effectively allow drivers to make purchases from their vehicles.

Vehicles could become the most convenient mobile commerce solution

Mobile Payments - Honda & Visa PartnershipConvenience is one of the most attractive aspects of mobile commerce. Being able to use a mobile device to make a purchase has become quite popular to consumers, many of whom already base much of their lives on their smartphones. These devices can be used to shop for and purchase products both online and in physical stores. With the new service from Honda and Visa, consumers may never to leave their vehicles to pay for products, which would turn vehicles into a new type of mobile commerce platform.

Driverless vehicles could benefit from mobile commerce services

A dedicated mobile payments service may be particularly useful for those with driverless vehicles. As these vehicles can operate themselves, passengers can spend their type shopping for and purchase products that they are interested in. They can do this with their mobile devices as well, but smartphones and tablets may have limited connectivity issues when traveling long distances. This is not typically true for driverless vehicles, as they are designed to make use of an expansive satellite network that allows them to avoid connectivity issues.

Visa brings more security to Samsung’s mobile payments platform

| March 4, 2015

Visa and Samsung come together to make mobile transactions more secure

Visa has announced that it will be supporting mobile payments on the newly unveiled Samsung Galaxy S6. Samsung revealed the new iteration of its flagship smartphone over the weekend. The device will have several upgraded features over its predecessors, but will also support Samsung Pay, a new mobile payments service that has been devised by Samsung. The new payment service is expected to officially launch in the summer of this year, and will support technology developed by Visa.

Visa Token Service will be used on Samsung Pay

Visa’s Token Service will be supported by Samsung Pay. This service involves the tokenization of consumers information when they make mobile payments. Financial information is converted into digital tokens, which can be used to authenticate a transaction. These tokens each feature a unique, 16-digit number and are created for specific payment environments. For example, tokens generated for the Samsung Pay platform can only be used on that specific platform and no other.

Samsung makes its first official entrance into the mobile payments field

Mobile Payments Security - VisaSamsung Pay represents Samsung’s first official step into the mobile payments field. The company has supported mobile commerce for some time, incorporating NFC technology into its mobile devices. This technology makes up the majority of the mobile payments infrastructure, and Samsung was one of the companies to make NFC-enabled devices more available to consumers throughout the world. Samsung will have to compete with other large companies that have established a strong position in the mobile commerce space.

Visa will help make mobile commerce more secure for consumers through the use of digital tokens

Visa’s support of Samsung Pay may help make the new mobile payments service wildly popular. The use of digital tokens will make Samsung Pay quite secure, when compared to other payment services. Mobile transactions can be made more secure through the use of biometric technology, as well, but tokenization has received more support from Samsung with its latest mobile device. Samsung Pay will be able to be used online and in physical stores that support mobile payments.