CAIRO: Google was granted a worldwide license to Visa payWave, a Near Field Communication (NFC) based payment technology, the firm said in a statement.
Visa payWave enables consumers to make secure payments at retail locations by waving their mobile phone in front of a payment terminal. It is currently accepted at hundreds of thousands of retail locations worldwide.
“The agreement sets the stage for Visa-issuing banks worldwide to enable Visa account holders to add their credit, debit and prepaid accounts to Google Wallet — a mobile application that turns a smart phone into a digital wallet,” Visa said in a statement.
“Mobile technology is transforming how people pay for goods and services,” said Jim McCarthy, global head of product, Visa Inc. “This agreement builds on Visa’s strategy of enabling consumers to make mobile payments with whatever device they choose using the trusted accounts they already have.”
“This agreement extends Google Wallet to Visa account holders worldwide,” said Stephanie Tilenius, vice president of Commerce and Payments at Google. “This is a crucial step towards realizing our shared vision for the future of mobile commerce — one that creates a rich shopping experience for consumers and merchants alike.”
Visa’s own digital wallet is designed to provide consumers with “click-to-buy” payment functionality and access to their Visa and non-Visa accounts using a personal computer or smart phone, to make purchases online and at retail locations.
Google Wallet is designed to enable an open commerce ecosystem enabling consumers to carry payment cards, offers, loyalty and gift cards.
