Visa wants to help create the future of payment
Visa is introducing a new digital payment development platform.
The Visa Next platform provides a set of beta application programming (interfaces) APIs, specifications and development tools for issuers and issuer processors to begin building and beta-testing new digital-first payment products.
The first set of beta APIs is designed to help Visa’s clients and partners build new ways for individuals to use, manage and control their money digitally. Specific functionalities enabled by the APIs include:
• Creating new digital card accounts on demand.
• Loading “tap to pay” mobile payment capabilities.
• Adding newly-issued or existing cards to the platform to build solutions that seamlessly combine multiple Visa digital services.
• Instantly activating and tokenizing digital accounts for use in e-commerce and mobile wallets.
• Enabling a consumer’s mobile device for contactless or QR payments using tokens.
• Delivering transaction data to retailers for real-time actions or authorization decisions, and purchase alerts to cardholders.
• Configuring rules/limitations around the use of digital cards, such as setting dynamic transaction/spending limits and controlling use by purchase channel or geography.
“Imagine if parents could instantly create a Visa card on their mobile device and send it to their child’s phone for immediate use, instead of giving them cash for movies, for example,” said Sam Shrauger, senior VP, global issuer and consumer solutions, Visa. “They could also set parameters around where, when, even how long the child can use this card – and adjust these controls at any time via their own mobile device. This example is just one of many ways our partners and clients can use this platform.”
Visa Next will also enable the creation of globally interoperable and tailored solutions for consumers around the world. Throughout 2019, Visa will release additional Visa Next beta APIs, including loyalty, benefits and rewards, and new transaction controls.
The Visa Next platform provides a set of beta application programming (interfaces) APIs, specifications and development tools for issuers and issuer processors to begin building and beta-testing new digital-first payment products.
The first set of beta APIs is designed to help Visa’s clients and partners build new ways for individuals to use, manage and control their money digitally. Specific functionalities enabled by the APIs include:
• Creating new digital card accounts on demand.
• Loading “tap to pay” mobile payment capabilities.
• Adding newly-issued or existing cards to the platform to build solutions that seamlessly combine multiple Visa digital services.
• Instantly activating and tokenizing digital accounts for use in e-commerce and mobile wallets.
• Enabling a consumer’s mobile device for contactless or QR payments using tokens.
• Delivering transaction data to retailers for real-time actions or authorization decisions, and purchase alerts to cardholders.
• Configuring rules/limitations around the use of digital cards, such as setting dynamic transaction/spending limits and controlling use by purchase channel or geography.
“Imagine if parents could instantly create a Visa card on their mobile device and send it to their child’s phone for immediate use, instead of giving them cash for movies, for example,” said Sam Shrauger, senior VP, global issuer and consumer solutions, Visa. “They could also set parameters around where, when, even how long the child can use this card – and adjust these controls at any time via their own mobile device. This example is just one of many ways our partners and clients can use this platform.”
Visa Next will also enable the creation of globally interoperable and tailored solutions for consumers around the world. Throughout 2019, Visa will release additional Visa Next beta APIs, including loyalty, benefits and rewards, and new transaction controls.