Visa 2013 Annual Report Download - page 6
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card, phone, computer and mobile device, and we are now
working to accelerate the shift from cash and check not just to
cards but to all other digital channels.
We continue to innovate ourselves, but we also live in a world
where we don’t have to provide all of the technology in the
payments value chain. We need to embrace partners who
want to use our network to advance the electronification
of payments. We need to work with many other entities —
including governments, mobile network operators and mobile
device manufacturers. We talk about innovating “at the edge
of the network” as a powerful catalyst for the growth of our
business and the continuing migration from cash to electronic
payments. As companies develop payment innovations
such as new point-of-sale technologies, we benefit from
their innovations. At the same time, they benefit from the
investments we make to ensure VisaNet is the most secure and
reliable payments system in the world.
To that end, there are several important things we did in 2013 to
enhance our technology and innovate in the payments world:
1. We announced industry standards with industry partners
to move to a newly tokenized payments environment.
These standards will create a secure environment for
digital payments by removing sensitive information from
the payments data flow. Just as important, they will create
a framework to ensure that the security and integrity of
the payments system are maintained as new payments
participants emerge. This initiative is in its early days, and
we are working on both the technical implementation
as well as the practical implications. There will be more
to come in the future, but we are excited about the
possibilities here.
2. We launched the Visa Ready Program to help accelerate the
introduction of innovative payment solutions globally. This
program provides the structure and clarity our partners and
clients need to develop and quickly introduce Visa-compliant
devices, software and solutions that can be used to initiate
or accept Visa-branded cards or payment products. Further,
the program provides mobile point-of-sale providers with
certification of mobile acceptance device hardware and
software used for processing Visa transactions.
We Are the Best Way to Pay and Be Paid for
Everyone, Everywhere
Early in Visa’s history, we articulated a clear and simple goal: to
be the best way to pay and be paid. Everything we have built
— our network, our products, our relationships — is anchored
in this idea.
Safety and Security: Accountholder and merchant safety and
security are core to this concept of the best way to pay and
be paid. We live in a world where crime of all types is a fact of
life, and our products set the highest standards and provide
the safest and most secure way to exchange value across the