To speed up the adoption of electronic payments, which can provide consumers with a more convenient and secure payment method, Visa has announced the release of a line of mobile payment services. The products provide businesses with a simplified solution to accepting mobile payments. Without making significant investments in new software and hardware, businesses will be able to provide customers with a mobile payment option.
Customers can monitor bank accounts, transfer funds and receive alerts about transactions on any mobile device. The services are compatible with any credit, debit or prepaid card account.
"Mobile money innovation is transforming how consumers manage accounts, providing them with real-time account access and information on the go, while also enhancing the overall experience with their account," said Lisa Stanton, general manager for Monitise North America.
This move signals the further deployment of mobile payments in the retail industry. Major credit card companies like Visa are hoping to speed up the transition to electronic payment methods because they offer security measures that can help retailers fight fraud transactions. In addition to accepting mobile payments, businesses can implement data tokenization and fraud detection tools as security solutions.
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