Visa debuts mobile services suite for financial services

Visa introduces a new mobile services platform for financial services designed to streamline processes for both banks and their customers.
Written by Rachel King, Contributor

In an effort to further encourage and promote mobile commerce solutions, Visa has unveiled a new suite of mobile services designed for U.S. financial institutions.

The idea behind the turnkey solution is benefit banks by reducing the complexity and cost associated with serving account holders through via mobile platforms.

Although developed in partnership with mobile banking service provider Monitise, the new service is fully managed by Visa and can be accessed with any mobile device with any eligible debit, credit or prepaid Visa and non-Visa account.

Available immediately, the new services include three simple yet very logical and necessary features required for mobile banking.

They include enabling bank customers to be able to monitor account history and balances, transfer funds between accounts, and receive real-time transaction alerts on their mobile devices.

These functions run on the Visa DPS issuer processing platform, which aligns with Visa’s global innovation strategy to accelerate the global shift to electronic payments and make these mediums more broadly available.

Given that Visa has several other mobile and e-commerce solutions in the pipeline (i.e. V.me by Visa and Visa’s digital wallet service), it's evident that Visa is positioning itself as the leader in mobile commerce with an all-encompassing suite of solutions for customers and businesses.

The competition is certainly getting stronger with the likes of eBay's X.commerce platform. But Visa has the global infrastructure and the partnerships (even with other digital wallet providers such as Isis and Google Wallet) that it has the potential to draw the most customers looking to streamline their solutions and stay within the same network and brand.


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