23 July 2017
download the report now

Visa Europe unveils mobile P2P payments and alert services

28 September 2011  |  17440 views  |  2 Fingers on smartphone keypad

Visa Europe's member banks will be able to offer their customers mobile person-to-person payment and alert services from next month.

The card giant inked a deal with UK mobile money specialist Monitise - in which Visa holds a minority stake - earlier this year to develop a range of services for banks.

The P2P payments system will allow registered users to transfer funds to any Visa cardholder in Europe from their mobile phone. The app makes it easy to send money to an address book contact, to a mobile phone number, or to a specific Visa card number - whether or not the recipient is registered with the service.

At launch the service will only be available through an English-language Android app and will support transfers in a single currency for Visa and V PAY cardholders within Europe. Support for other operating systems, multiple currencies and payments to and within non-European countries will be added over the next few months.

Meanwhile, the alerts system notifies registered cardholders on a real-time basis whenever their card has been used to make a purchase or to withdraw cash through Visa Europe's payment network.



Peter Ayliffe, CEO, Visa Europe, says: "The way we pay is changing, driven by the rapid uptake of new technologies and growing consumer demand for more flexible payments...We are already seeing early adoption of mobile payments, and in the coming months we will see the arrival of mainstream NFC technologies, advanced loyalty and e-commerce services, and ultimately, the launch of a new digital wallet."

Comments: (2)

Killian Clifford
Killian Clifford - Mobile Money Consulting - London | 28 September, 2011, 10:45

As predicted in blog a few weeks back http://www.finextra.com/community/fullblog.aspx?blogid=5780

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
A Finextra member
A Finextra member | 28 September, 2011, 17:52

Interesting to see who is paying interchange, the payer or payee bank - if anybody? The clearing&settlement is also interesting for p2p - when does the payee get hold of the money? One of two days later? This service can circumvent the merchant acquirer if the merchant is paid through p2p and also as a bonus avoid the merchant service charge. Small merchants may take up this - no payment guarantee is needed - the alert service confirms that the customer has paid.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Google launches mobile wallet

Google launches mobile wallet

19 September 2011  |  17384 views  |  1 comments
Americans trust Visa over Apple for m-payments

Americans trust Visa over Apple for m-payments

10 August 2011  |  13117 views  |  0 comments
Visa cites m-payments as it pushes US to EMV

Visa cites m-payments as it pushes US to EMV

09 August 2011  |  16558 views  |  1 comments
Visa preps digital wallet

Visa preps digital wallet

11 May 2011  |  13154 views  |  0 comments
Visa invests in Square

Visa invests in Square

28 April 2011  |  15419 views  |  1 comments
Visa Europe promises EUR100m a year on mobile and e-commerce

Visa Europe promises EUR100m a year on mobile and e-commerce

08 April 2011  |  10332 views  |  1 comments
Visa agrees $190m PlaySpan acquisition

Visa agrees $190m PlaySpan acquisition

09 February 2011  |  10070 views  |  0 comments
Visa Europe and Monitise team on mobile payments

Visa Europe and Monitise team on mobile payments

03 February 2011  |  11419 views  |  0 comments
Visa Europe completes EUR500m processing platform

Visa Europe completes EUR500m processing platform

01 October 2010  |  11504 views  |  0 comments
Monitise to raise £32m; extends Visa deal

Monitise to raise £32m; extends Visa deal

13 July 2010  |  10843 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.euvisit www.finastra.comvisit www.ncr.com

Top topics

Most viewed Most shared
German fintech factory FinLeap raises EUR39 millionGerman fintech factory FinLeap raises EUR3...
13955 views comments | 19 tweets | 15 linkedin
Mastercard to buy AI outfit BrighterionMastercard to buy AI outfit Brighterion
10201 views comments | 14 tweets | 20 linkedin
Barclays rides payments-as-a-service wave with investment in Form3Barclays rides payments-as-a-service wave...
9084 views comments | 16 tweets | 12 linkedin
Mastercard and Scotiabank join Enterprise Ethereum AllianceMastercard and Scotiabank join Enterprise...
7700 views comments | 25 tweets | 16 linkedin
PayPal strikes deals with Chase and CitiPayPal strikes deals with Chase and Citi
6993 views comments | 9 tweets | 5 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job