Tag: visa

The credit card giant has now backed the smartphone payment solution that is accepted at most POS terminals.

It has now been announced that Visa is investing into LoopPay, which is a mobile wallet app that is designed to provide consumers and retailers with a mobile payment solution that is already accepted at a majority of point of sale terminals among retailers.

The LoopPay mobile app has been created to allow people to make mobile payments with smartphones.

This eliminates the need for those consumers to have to bring their plastic credit cards with them because they can use the mobile wallet within their device to pay with those cards in a digital manner, instead. The app uses a traditional setup for a smartphone based payments service, and provides the consumer with a small dongle that plugs into the device in order to allow users to be able to swipe their virtual cards when they reach the cash register to pay for their products at a retailer’s checkout counter.

In this way, the LoopPay mobile wallet doesn’t require any changes to be made to the retailer POS terminals.

To work with the LoopPay mobile payments software, retailers can simply continue to use the point of sale terminals that they already have. This helps to be able to span the gap that is currently present in the majority of smartphone based wallet services in the United States retail market.

Typically, in order for retailers to be able to receive mobile payments, they would have to change their terminals in order to accept some specific form of technology. At the same time, those that already accept certain types of smartphone friendly tech, such as NFC technology based readers, are compatible with only a small percentage of devices that are currently used by consumers.

As this service allows retailers to keep their systems and simply provides consumers with a dongle to use, this overcomes the compatibility challenges that have existed among many mobile wallet services until now. In this, Visa has already announced that it is upgrading its VisaCheckout program. Therefore, their investment into LoopPay will give the company the opportunity to make an even larger impact on the smartphone payments sector.

Security is becoming a major issue for the mobile shopping spectrum

Security is currently one of the greatest challenges facing mobile payments adoption. Many payment platforms have lackluster security features that could leave a consumer’s financial information exposed for exploitation. This has made many people somewhat leery of the mobile shopping and payments space, unwilling to use their mobile devices to purchase products online. Visa is working to solve this problem, however, and has recently announced new products that could improve security in the mobile space and make people more comfortable with paying for products from their mobile devices.

Visa is taking security seriously, introducing a new suite designed to keep mobile transactions secure

Visa recently announced its Visa Digital Solutions, which is a comprehensive software suite that is designed specifically for making mobile payments secure. The suite is meant to provide a set of standards, tools, and services to those wishing to accommodate mobile spenders, enabling retailers and smartphone makers to connect with Visa’s payment infrastructure quickly and efficiently. The solution is designed with security in mind, and that may be a good thing for companies like Apple.

Apple is in need of a security solution that can solidify its place in the mobile payments field

Apple has a strong interest in mobile payments, but the company has been very slow to introduce its own payment platform. This is largely due to the security concerns that Apple has, having seen other companies launch payment platforms that have been subject to digital attacks. Apple has been looking into developing its own security systems that can protect mobile transactions, but Visa’s new solution could encourage a partnership between the two companies.

Apple and Visa have not yet announced any plans to work together in mobile transactions

Apple has teamed with other companies to address the security issue in the past. These partnerships have lead to the development of security solutions that may make mobile payments more attractive to consumers. A partnership between Apple and Visa may yield yet more protections for consumers interested in shopping online with a mobile device. Such a partnership has not been announced, however.