March 29, 2007

Visa moving to cell phone payment in USA

by Brian Turner

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At the CTIA Wireless convention in Orlando, Visa USA revealed plans to expand the use of wireless payment transactions.

The company has entered into collaborations with several wireless technology companies to explore technology which allows customers to pay with the wave of a handset, rather than a traditional plastic card.

Wireless transactions are already common in countries such as Japan, but the market is at an early stage in the USA.

The technology would help mobile service providers increase customer loyalty, while it could help Visa to significantly increase its customer base in the USA, where 46% of consumer use cash and cheques to pay for goods.

Visa is working with Qualcomm, a wireless chip developer Qualcomm, to develop technologies which will allow consumers to make credit card-like transactions with a phone and a reading device.

The company is also collaborating with handset maker Kyocera Wireless, which has agreed to support the Visa mobile payments platform in its phones.

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Story link: Visa moving to cell phone payment in USA

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