The app was announced by Visa Europe Chief Executive Peter Ayliffe in his keynote speech at the EFMA conference in Paris. Right now the app is available only in English and allows transfers in a single currency for Visa and V PAY cardholders within Europe.
Visa promises support for additional operating systems and multiple currencies, as well as payments to and from countries outside Europe in the future.
In order to transfer money, the sender will need to use a Visa card issued by a bank which supports the service and register with Visa. Money can then be sent, via the app, to a Visa pre-paid or debit card.
The recipient will not have to be registered with the service.
Another feature of the new app is access by a Visa card holder to notifications whenever their card is used.
In his keynote address, Ayliffe said:
The way we pay is changing, driven by the rapid uptake of new technologies and growing consumer demand for more flexible payments. Today's announcement is the first in a series of new products and services that Visa Europe will be launching in the coming months to reflect the fundamental shift in consumer behaviour. 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.
Visa has also been working with with Google to get Visa payments added to the recently launched Google Wallet program.
Written by: Rich Fiscus @ 29 Sep 2011 13:07