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Visa presents new program to accelerate cash to electronic payments migration

Global payments technology company Visa has introduced a new partner program to step up the deployment of latest payment technologies as well as boost migration from cash to electronic payments worldwide.

The new initiative will assist financial organizations and merchants to benefit from new payment technologies including mobile NFC payments, mobile point-of-sale acceptance technologies.

The program also enables mobile device manufacturers, technology partners, mobile network operators, among others, to gain access to Visa IP, licenses and best practices, while easily navigating the complexities of the payments ecosystem.

Visa product global head Jim McCarthy said, "The pace of innovation in the payments industry requires a new approach that ensures innovative payment methods can be tested, approved and commercialized quickly."

The newly introduced program includes Visa’s existing program for the approval of mobile NFC-enabled devices, as well as a new program to enable mobile point-of-sale acceptance solutions that fulfill local needs.

Apart from this, the company has developed the Visa Ready symbol to recognise payment devices and technologies approved for use with Visa payments.

Trading in more than 200 nations and regions, the firm connects consumers, businesses, financial institutions and governments to fast, secure and reliable digital currency.