Clients and partners gather at Visa’s global headquarters in San
Francisco to celebrate the milestone
SAN FRANCISCO--(BUSINESS WIRE)--
Visa Inc. (NYSE:V) today announced the launch of Visa
Developer, a milestone that transforms the world’s largest retail
payments network to an open platform that will drive innovation in
payments and commerce. For the first time in the company’s nearly 60
year history, software application developers will have open access to
industry leading payments technology, products and services by Visa.
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The new Visa Developer platform is designed to help financial
institutions, merchants, and technology companies meet the demands of
consumers and merchants, who increasingly rely on connected devices to
shop, pay and get paid. At launch, the new platform will offer access to
some of Visa’s most popular payment technologies and services including
account holder identification, person-to-person payment capabilities,
secure in-store and online payment services such as Visa Checkout,
currency conversion and consumer transaction alerts. Visa plans to
provide access to more of its payment capabilities over the next year.
“As the leader in payments we have an opportunity to transform global
commerce by opening-up access to our global network and supporting our
clients, industry partners and innovators in their pursuit of creating
new, easier and more secure ways to pay,” said Charlie Scharf, chief
executive officer, Visa Inc. “Visa Developer represents not only a new
access point to our network, but a new distribution platform for Visa
products and services globally.”
Over the past few months leading financial institutions, technology
companies, and start-ups have participated in beta trials of the new
Visa Developer platform and many have already created innovative
prototype applications using Visa technology. Trial partners include
Capital One, CIBC, Emirates NBD, National Australia Bank (NAB), RBC, TD
Bank, Scotiabank, TSYS, U.S. Bank and VenueNext. According to a recent
Accenture study, FinTech investments reached more than $12B globally in
2014.1
The creation of the Visa Developer platform has been a multi-year
initiative led by Visa’s global product and technology teams. The team
is transforming Visa’s payment products and services into application
programming interfaces (APIs), standard technology used by developers
for building software
and applications. Key attributes that differentiate Visa’s global
developer program include:
-
A globally accessible developer portal offering an easy way to search
Visa’s extensive suite of payment products and services.
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An open platform that provides access to hundreds of Visa APIs and
software development kits for some of Visa’s most popular payment
products and capabilities.
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A testing sandbox that offers application developers a plug and play
experience, as well as access to Visa test data.
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Visa Developer engagement centers that are designed to foster
collaboration and co-creation with application developers in key
markets like San Francisco, Dubai, Singapore, Miami and São Paulo.
“We are unbundling Visa’s full suite of products and services and giving
developers open access to the underlying payment capabilities,” said
Rajat Taneja, executive vice president of technology, Visa Inc. “We
believe this will lead to the creation of entirely new commerce
experiences with Visa technology integrated to enable greater security,
scale and convenience when it comes time to pay. When you add the
ability to distribute those new experiences across Visa’s global
network, you can see why Visa Developer will become the preferred
playground for developers everywhere.”
Visa’s vision for its global developer engagement program includes the
creation of a marketplace that enables thousands of financial
institutions, millions of merchants and technology companies to
collaborate, share and search for innovative digital commerce
applications and services.
To watch a live webcast of the Visa Developer launch event on Thursday,
February 4, 2016, at 10am PT, please visit http://www.webcastregister.com/visa/event/.
Client and Partner Quotes:
Visa’s launch clients and partners around the world are sharing their
views on what this important milestone means for them and their
customers.
“Visa’s new Developer platform will help simplify the delivery of easy
access payment solutions for our clients and we are excited about its
potential to increase our speed to market in some areas,” says Alison
James, vice president, Cards Technology, CIBC. “It’s encouraging to see
partners like Visa continue to bring innovation to life and take another
step forward in the advancement of integrated and adaptable payment
technologies.”
“Australians are among the world’s fastest adopters of new technologies
and our partnership with Visa enables NAB to act more quickly to deliver
market-leading innovations and great experiences for our customers,”
said Antony Cahill, NAB group executive, Product & Markets.
“For RBC, innovation is fundamental to how we’re providing relevant,
secure and convenient solutions to our clients,” said Linda Mantia,
executive vice president, Digital, Payments & Cards, RBC. “By working
with our ecosystem partners like Visa, we can continue to provide easy
to use, value-added services. As an example, we’ve already started
working on solutions leveraging Visa’s newly released APIs to ultimately
bring added convenience and flexibility to RBC mobile clients at a much
faster pace than was possible in the past.”
“Scotiabank applauds the creation of the Visa Developer platform for its
ability to accelerate innovation and the launch of new, customer-focused
payments solutions,” said Brian McCabe, vice president, Day to Day
Banking at Scotiabank. “The payments ecosystem is evolving rapidly,
making the timely delivery of solutions-driven technology more critical
than ever.”
“The Visa Developer program presents a tremendous opportunity to elevate
the global payments and commerce space," said Ruby Walia, headý of
mobile & online banking, TD Bank Group. "TD looks forward to leveraging
this platform to create new ways to deliver exceptional digital
experiences to our customers."
“TSYS has a long-standing business relationship with Visa, and we are
thrilled to be one of the first payment solutions providers included in
the Visa Developer program,” said Craig Ludwig, head of product for
TSYS’ Merchant Services segment. “Their exciting new APIs allow us to
deliver next-generation products and services that our issuing,
acquiring and merchant clients can use to grow their businesses. By
implementing Visa’s new technology, we will be at the forefront of
payment product innovation.”
"Banks and collaborators in the FinTech industry that are committed to
delivering customers faster, more efficient and secure financial
services need to test, learn and deploy new ideas quickly in order to
remain competitive," said Dominic Venturo, chief innovation officer at
U.S. Bank. "Collaboration is key, and the developer portals and tools
offered by Visa enable U.S. Bank to bring new ideas to reality for our
customers more quickly and with less development investment than
traditional approaches."
“At VenueNext we’re on a mission to transform venue experiences, and a
big part of this is making payments seamless for both the guest and the
venue operator,” said John Paul, CEO & founder, VenueNext. “Working
together with Visa’s development team was a joy as we quickly and easily
integrated Visa Checkout into our technology platform. We’re looking
forward to doing more together in secure payments as the credit card
disappears into the smartphone.”
“We congratulate Visa on the launch of the Developer platform and are
proud to be a pioneer in using this advanced service by being the first
bank globally to implement Visa’s Mobile Location Confirmation (MLC)
service,” said Suvo Sarkar, senior executive vice president & group
head, Retail Banking and Wealth Management, Emirates NBD. “Our
partnership with Visa has enabled us to leverage best practices in
enhancing the customer experience on payment cards and has contributed
significantly to our market leadership in the UAE’s fast growing digital
banking space. We were the first bank in the Central Europe, Middle East
and Africa region to sign up to Visa Inc.’s new Digital Enablement
Program (VDEP) and among the first in the region to sign up for the Visa
Checkout service. We look forward to increased collaboration which will
continue to define convenient new ways for our customers to bank.”
About Visa
Visa Inc. (NYSE: V) is a global payments technology company that
connects consumers, businesses, financial institutions, and governments
in more than 200 countries and territories to fast, secure and reliable
electronic payments. We operate one of the world’s most advanced
processing networks — VisaNet — that is capable of handling more than
65,000 transaction messages a second, with fraud protection for
consumers and assured payment for merchants. Visa is not a bank and does
not issue cards, extend credit or set rates and fees for consumers.
Visa’s innovations, however, enable its financial institution customers
to offer consumers more choices: pay now with debit, ahead of time with
prepaid or later with credit products. For more information, visit usa.visa.com/about-visa,
visacorporate.tumblr.com
and @VisaNews.
1 Source: Accenture, “The Future of FinTech and Banking:
Digitally disrupted or reimagined?” report, based
on CB Insights data.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160204006175/en/
Source: Visa Inc.