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Visa launches mobile services for US financial institutions

09 February 2012  |  8339 views  |  0 Visa web screenshot

Visa has teamed up with Monitise to upgrade its issuer processing platform, enabling US financial institutions to offer their customers a range of mobile services.

Working with Monitise - the UK-based mobile specialist in which it holds a stake - Visa has boosted its issuer processing platform, Visa DPS. This means its can offer mobile services that are fully managed by Visa and can be accessed with any device, any mobile channel, and with any eligible debit, credit or pre-paid account.

Banks and credit unions can now use it to offer their customers the ability to monitor account history and balances, transfer funds, and receive near real-time transaction alerts on their mobile devices. The card giant says it also has other services in the pipeline, including cheque deposit, NFC payments, mobile offers, and support for V.me, its upcoming digital wallet.

John Partridge, president, Visa, says: "The services offered by Visa DPS are a one-stop solution for Visa clients who want to serve their customers through the mobile channel without making significant investments in hardware, software or mobile expertise. Through our ongoing investments in Visa DPS, our clients can not only take advantage of Visa's scale and expertise in payments processing, but also have the opportunity to easily implement Visa's extensive roadmap of mobile innovations - from mobile banking, to NFC payments, and to our digital wallet, V.me."

Enabling mobile services through the Visa DPS platform "directly aligns with Visa's global innovation strategy to accelerate the global shift to electronic payments," says the company.

The US deal comes after a similar partnership between Visa Europe and Monitise, enabling member banks to provide customers with mobile person-to-person payment and alert services. Meanwhile, the card firm is taking a different path in the developing world, launching a pre-paid account aimed at the underbanked that can be accessed through mobile phones.

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