Visa this morning announced that it has agreed to acquire Fundamo, a specialist mobile financial services provider to network operators and financial institutions in developing economies, for $110 million in cash.
Yesterday was a big day for hot mobile payments startup Square. The company announced that it received a strategic investment from Visa, giving the company a big stamp approval. And it also announced something that got far less attention: Square will be releasing a new card reader (the thing you plug into your phone) this summer, and it will use encryption at the read head. The news was announced… → Read More
There is no doubt that mobile payments company Square is on a roll. The company just landed a lucrative deal selling its credit card readers in Apple’s retail stores and is growing at a fast clip. And now the company has just received a strategic investment from a giant in the credit card industry—Visa.
Following in the footsteps of rival Visa, American Express this morning announced a digital payment and commerce platform dubbed Serve, enabling U.S. consumers to make purchases and person-to-person payments online, via mobile phones and at AmEx’s network of millions of merchants.
Serve integrates a variety of payment options into a single account that can be funded from a bank account, debit… → Read More
The idea of turning your mobile phone into a digital wallet has a long and fruitless history. People are getting excited again about the prospect of mobile wallets replacing those in your pocket overstuffed with receipts and credit cards because both Google and Apple are pursuing the concept. The key technology that could make mobile wallets a reality are near field communication (NFC) chips. … → Read More
Giant retail electronic payments network operator Visa is giving PayPal a run for its money today, announcing a new service that will allows U.S. consumers to receive and send funds to any eligible Visa credit, debit or prepaid account.
Now, bank customers of participating financial institutions will have the option to select a Visa account as the destination for funds when making a personal… → Read More
While attending the Mobile World Congress 2011 in Barcelona, it became clear to me that, while many startups are entering the market with mobile payments solutions, the incumbent card networks are likewise devising their own strategies to be part of the new ecosystem. A quick Q&A with Visa’s head of mobile, Bill Gajda revealed a bit about their strategy for keeping their credit products hip… → Read More
PlaySpan, a virtual goods monetization platform, has been acquired by Visa. According to the release, Visa will pay $190 million in cash for the company, plus additional payouts for performance milestones. The deal comes nearly a year after Visa spent a whopping $2 billion on e-payment company CyberSource. Visa says that the acquisition of PlaySpan complements the CyberSource deal and will extend… → Read More
Giant retail electronic payments network operator Visa has released a free iPhone app in the United States, giving users access to over 50 merchant offers ranging from clothing and dining to entertainment, just in time for the holiday shopping season.
The app will allow retailers such as New York & Company, Planet Hollywood, Holiday Inn, Hard Rock Café and Zales to automatically deliver… → Read More
Like a good number of startups, payments technology giant Visa too wants to make shopping on the Web more socially interactive, visually appealing and easy to manage.
Payment network operator Visa has agreed to acquire e-payment company CyberSource for $26 per share, or total consideration of approximately $2 billion to be paid with cash on hand. The price represents a near 34 percent premium over Mountain View-based CyberSource’s Tuesday closing price.
The deal will enable Visa to bolster online sales and offer new and enhanced online fraud prevention… → Read More
Achieving Payment Card Industry Data Security Standard (PCI DSS) compliance for online transactions is an expensive and timely endeavor; routinely costing hundreds of thousands of dollars and spanning several quarters to reach the desired status. In fact, according to Gartner, PCI compliance will cost up to an average of $2.7 million among Level 1 merchants and $267,000 among Level 2 merchants. → Read More
Americans, virtuous and true, would you use your cellphone as a credit card? That is, instead of whipping out the plastic in front of some high school kid manning the register at Target, would you wave your connected-to-your-credit-card-account cellphone in front of a scanner? In the blink of an eye your transaction is completed, with the total amount being charged to your credit card account. → Read More
Sure, that Street Fighter IV-branded Visa pre-paid debit card looks cool—hey, it’s Ryu v. Ken!—but you’d better look at the fine print lest The Powers That Be nickel-and-dime you. In short, there’s a hell of a lot of fees associated with the card that you ought to know about. → Read More