Visa Europe to launch Visa Mobile Person-to-Person service for banks and Visa Alerts as first in a series of mobile payments services
Visa Europe is launching two new mobile services in October, a person-to-person payments service that can be integrated into banks’ own apps and a system that alerts consumers when their card is used on Visa’s payment network.
Visa Mobile Person-to-Person payments, developed in partnership with mobile money firm Monitise, allows a bank customer to use an app from their bank to send money to an address book contact, a mobile number, or a Visa account.
The person sending the money must be have a compatible bank account and register with the service. The recepiant does not need to register, but must have a Visa card.
Visa claims the service is as secure as normal Visa payments, and is suited to transactions such as repaying loans from friends, splitting restaurant bills and transfering money to students at university.
The service is similar to a service launched by Ericsson Money Services earlier this year, and O2 is planning to introduce person-to-person payments as part of its O2 Wallet later this year.
Visa is also launching an alert service called Visa Alerts, which enables users to set up customisable notifications for when their Visa card is used.
Visa said the service not only provides extra security, but also helps users keep track of their transactions.
Visa europe CEO Peter Ayliffe (pictured) said: “The way we pay is changing, driven by the rapid uptake of new technologies and growing consumer demand for more flexible payments.
“Today’s announcement is the first in a series of new products and services that Visa Europe will be launching in the coming months to reflect the fundamental shift in consumer behaviour.
“We are already seeing early adoption of mobile payments, and in the coming months we will see the arrival of mainstream NFC technologies, advanced loyalty and e-commerce services, and ultimately, the launch of a new digital wallet.”