VISA is a world leader in payment services. Individual online sites / sellers usually do not form direct relationships with credit card companies like Visa - instead, sellers form relationships with Payment Merchants - 3rd party companies, middlemen that essentially manage and support the individual sellers while complying with Visa's technical and legal requirements.
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Visa Creates Global Cell Phone Payment System
Date: 1/12/2007
At the Las Vegas convention, VISA corp announced its plans to launch a new Global Cellphone payment system. The new system would initially allow buyers to pay for their goods at the counter by swiping their phone in front of a special reader, and clicking the confirm button on their phone. Visa hopes to expand this capability to a fully cell-phone-only system whereby users could make payment, transfer funds to other users, and manage their accounts in general from anywhere in the world, using only their cell phones.
Visa has been working with IBM, Nokia and other companies in an effort to bring this system online as soon as possible. Will it mean the end of credit cards as we know it and usher the age of the electronic wallet? Time will tell. Get The Full Story On ClickToNews.com
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