VISA USA is turning mobile phones into credit or debit cards. VISA USA is planning to partner with technology firms to expand mobile payment service. The company is talking with software maker companies, Ecrio and dotMobi to create .mobi domain named websites for phones.
Visa is working with wireless chip developer Qualcomm Corp to develop mobile phones, which can be used mobile payments. Even mobile handset maker Kyocera Wireless Corp is agreed to support the Visa mobile payments platform in its mobile phones.
Wireless transactions are common in few countries, like Japan, where people pay their payments through mobile phones instead swiping their credit card. While in US around 46 per cent people use their mobile phones for payments. Mobile phone payment is based on technology named near-field communication (NFC) where chip allows customers to wave a card in front of scanner to purchase instead of swiping card.
Visa’s investment in Ecrio will help the company to develop NFC technology. It also will help the private company develop technology called MoBeam, or mobile barcode redemption that allows phone handsets to beam barcodes to laser point-of-sale terminals.
Via: Computer World
