Visa improves connectivity between banks and technology innovators

Visa has recently partnered with Google to launch the Visa Digital Enablement Program.

The new service builds on the company’s token technology, which has evolved to include a commercial framework that can be reached by more than 14,500 financial institutions and technology partners worldwide.

The Visa Digital Enablement Program provides a consistent, universal framework that will simplify and accelerate mobile and digital commerce for players like Android Pay and Samsung Pay.

Already, the Visa Digital Enablement Program has secured a major partner in Google. Android Pay launched in May and allows Visa credit, debit and prepaid cardholders to use their Android phones for mobile payments in-store and within Android apps.

The Visa Digital Enablement Program is designed to simplify the implementation of the technology globally. This means financial institutions can use Visa’s token service, connecting issuers to current and future wallet providers of the issuer’s choice without the need to directly contract with them.

The framework brings together secure token technology, risk and fraud management services and customer data protections to ensure secure digital commerce solutions and protection of consumer data.

The digital enablement service will also benefit innovators wanting to bind payments credentials to any device connected to the Internet.

One such innovator is San-Francisco-based Stripe. Last month, Visa announced its investment in the four-year-old company which provides application programming interfaces. In a strategic partnership with Visa, Stripe’s technology allows businesses to create customisable mobile and online payment systems to accept payments from around the world. This is part of Visa’s further expansion across the payments ecosystem.

Indue is working with Visa in Australia to enable Visa Checkout. We integrate strategic advice and back-of-house support, with leading-edge technology and customer-facing solutions, to help clients seamlessly transact and accurately settle their accounts.

For more information on Visa Digital Enablement Program or Visa Checkout, click here to contact a member of our expert team.

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