Visa 2014 Annual Report Download - page 11
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internet connected devices
and wearables. Examples
of the offerings include a
software development kit to
make it easier for merchants,
financial institutions and
developers to embed Visa
payWave into mobile apps and
specifications for presenting
Visa account information in
Quick Response (QR) code.
This is only the beginning of
what we have planned and
provides a great platform for
innovation.
Digital Payments
Commerce is moving to the
digital world – either paying
for things in the physical world
digitally, or paying digitally in
the connected world. This
transition will take place at
different speeds across the
world, but it will happen
everywhere, and we have
to be at the forefront of the
change.
Simply, we want to achieve the
success as a leading partner for
digital payments comparable
to what we have achieved in
the physical world. To achieve
this goal, we will insure our
products are easy to use and
accept in all forms of digital
commerce.
Much of the work we are
doing here is captured in
other sections since our
ability to drive success here
is dependent upon our
work with new partners,
transforming our technology
assets, and the security work
we are doing.
Here are some examples of
what we’ve done in 2014 to
accelerate our progress in the
digital world:
• We launched Visa Token
Service, which replaces
sensitive payment account
information found on
plastic cards with a digital
account number or “token”
which can be used to
facilitate online and mobile
transactions more securely.
This obviously improves
security, but it also allows
us to deploy our payment
credentials into different
environments in a secure
manner.
• Apple Pay is the first of
what we expect to be many
consumer experiences using
Visa Token Service.
• In July, we launched Visa
Checkout, a quick and
easy payment service that
allows consumers in the
U.S., Australia and Canada
to pay for goods online
on any device in just a
few clicks. In just three
months, nearly two million
users have registered with
Visa Checkout through
both merchant and issuer
channels.