Visa enables Visa payments on Fitbit’s first smartwatch – Fitbit Ionic™

“How We Will Pay”* study shows consumers who own wearables buy more, prefer cashless purchases and view devices as eliminating buying friction

SAN FRANCISCO, 2017-Aug-29 — /EPR Retail News/ — Visa (NYSE:V) today (Aug. 28, 2017) announced it is enabling Visa payments on Fitbit’s first smartwatch – Fitbit Ionic™. Eligible cardholders of participating banks will be able to make payments with Fitbit Pay™, Fitbit’s new payment function, when available. With Fitbit Pay, Visa and Fitbit are meeting demand amongst the majority of wearable owners who, according to the recent “How We Will Pay” survey* by PYMNTS and Visa, see the opportunity for wearables to improve the way they pay throughout their day with a more secure and seamless cashless payment experience.

The continuous rise in mobile connectivity has led to the proliferation of digital payments, with Visa helping to offer more ways to pay through devices such as phones, watches and now fitness trackers with the new Fitbit Ionic – no physical wallet required. To make Visa purchases using the Fitbit Ionic device, users simply load an eligible Visa credit or debit card on the Fitbit companion app and hold the smartwatch near an NFC-enabled terminal for a simple and secure way to make purchases on the go.

“Visa continues to focus on delivering the tools and technologies that empower our partners to offer safe, secure and convenient payments to consumers via connected devices,” said Jim McCarthy, executive vice president of innovation and strategic partnerships at Visa Inc. “Partnering with Fitbit on its new Fitbit Pay service is another step forward in the growth of Internet of Things and shows how Visa is enabling companies across the technology industry to help us all move towards a cashless future.”

Fitbit Pay provides secure payments through the Visa Token Service. Tokenization is a payment security technology that replaces card account information, such as account numbers and expiration dates, with a unique digital identifier (“token”) that is used for payment without exposing a cardholder’s more sensitive account information. Active accountholders can leave their wallet at home and pay with a touch of their wrist.

“We are proud to partner with Visa and offer the ability to pay on the go with Fitbit Pay on Fitbit Ionic, offering more convenience for our users to help them reach their health and fitness goals,” said Jon Oakes, VP of Product Management at Fitbit. “Whether grabbing a smoothie post-run or paying for a coffee while counting steps on a city tour, we are delighted to give users the option to leave their wallet at home and simply pay with their device. We are happy to be working with Visa to give our customers what they want.”

“How We Will Pay” Wearables Survey Data

The “How We Will Pay” study* finds the majority of consumers want their wearables to allow them to make everyday purchases, in a safe and seamless way. New wearables, like the Fitbit Ionic, address some of the priorities and concerns identified by survey respondents – including safety/security concerns, reducing friction when making a purchase and providing a way to pay without carrying a wallet.

  • Consumers who own wearables buy more: The study showed wearables owners buy more things than the average consumer in all product categories, ranging from apparel and food to personal care products and more.
  • Wearable and non-wearable owners prefer to go cashless: More than 60 percent of all respondents – wearables owners and non-wearables owners – preferred cards and digital payments over cash.
  • Wearables improve personal productivity: More than 85 percent reported that wearables help save time and improve efficiency. The seamless payments made possible by the Fitbit Ionic may reduce friction for the active Fitbit consumers when they are making a payment.
  • Security and theft are two major concerns for wearable device owners: More than 70 percent of wearable owning respondents reported that they worry about data privacy and theft. Visa Token Service provides a safer and more secure way to pay, addressing this concern for Fitbit Ionic users.

For more information on Visa’s role in the Internet of Things and the “How We Will Pay” survey results, please visit – www.visa.com – and follow the conversation at @VisaNews.

*The “How We Will Pay” survey was conducted among a panel of approximately 2,600 adult users ages 18 and older within the United States by PYMNTS on behalf of Visa from April- May 2017

About Visa

Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead with prepaid or pay later with credit products. For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews.

Contact:
Katie Harris-Maines
415-810-4930
KathHarr@visa.com

Source: Visa Inc.

Visa and Marqeta partner to drive further innovations in commercial and consumer payments

Visa Makes Strategic Investment in Marqeta to Support Key Growth Initiatives

SAN FRANCISCO & OAKLAND, Calif., 2017-Jul-28 — /EPR Retail News/ —Visa (NYSE: V) and Marqeta, the open API payment card issuing platform, today (07/26/2017) announced a multi-year, global partnership to drive further innovations in commercial and consumer payments. Additionally, Visa has made a strategic investment in Marqeta to support Marqeta’s domestic and international growth objectives.

The initial efforts of the partnership will involve growing opportunities for virtual, physical and tokenized payments across a number of commercial markets and use cases that can benefit from Marqeta’s developer-friendly platform.

“We’re excited to partner with Marqeta to collectively bring our unique assets and capabilities to more partners and clients globally,” said Jim McCarthy, executive vice president, innovation and strategic partnerships, Visa. “We are always looking for partnerships and investments that allow us to evaluate innovative, new ways to support our clients’ needs, and increasingly see open, developer-friendly platforms as a way to help clients move quickly in today’s fast-paced environment.”

The market for electronic payments continues to grow in commercial payables, alternative lending, disbursements, eCommerce, on-demand services and P2P payments. To enable this growth, Marqeta’s platform and patent-pending Just-In-Time (“JIT”) Funding feature allows companies of all sizes to authorize their own card transactions, fundamentally changing how companies engage with card issuing and transaction processing. Developers on Marqeta’s platform can sign up for a sandbox in under a minute and then leverage Marqeta’s modern set of card controls and configurations to get a fully funded card program to market in a matter of days.

“The Marqeta core processing platform is architected from the ground up to be the most modern, flexible and developer friendly platform anywhere in the market today,” said Marqeta CEO, Jason Gardner. “We’re democratizing access to innovation for new issuers and fintech players, and we’re proud to partner with Visa and its broader ecosystem.”

This is the latest partnership and investment for Visa with an emerging innovator within the payments ecosystem. As a global payments technology company, Visa continually evaluates technologies of all kinds – especially those that have the potential to advance digital payments for Visa’s clients and their customers. Recently, Visa has made investments in Chain, Klarna, Square and Stripe, among others.

About Visa

Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead with prepaid or pay later with credit products. For more information, visit usa.visa.com/about-visavisacorporate.tumblr.com and @VisaNews.

About Marqeta

Marqeta is the first modern card issuing and core processing platform, powering prepaid, debit and credit cards for the world’s top commerce innovators. Marqeta’s advancements represent the first fundamental updates in the past twenty years to card issuing platforms, a $30 trillion addressable market covering all possible cardable spending. Marqeta employs more than 100 people and is headquartered in Oakland, California. For more information, visit Marqeta on our website, Twitter, and LinkedIn.

Media Relations:
Visa
Kryssa Guntrum
415-805-4488
kguntrum@visa.com

Bite Communications for Marqeta
Erin Freeley
646-246-1962
Marqeta@biteglobal.com

Source: Visa Inc.

Visa invests in one of Europe’s fastest growing online payments companies Klarna

Future collaboration will enhance payment experiences for consumers in Europe

NEW YORK and COPENHAGEN, Denmark, 2017-Jun-30 — /EPR Retail News/ —  Today (06/27/2017), Visa (NYSE:V) and Klarna announced they have reached an agreement for Visa to invest in Klarna, and intend to develop a future strategic partnership. Klarna is one of Europe’s fastest growing online payments companies, serving 60 million consumers and 70,000 retailers.

The equity investment and planned partnership demonstrate Visa and Klarna’s shared vision to accelerate online and mobile commerce for the benefit of consumers and merchants across Europe. The announcement was made at Money 20/20 being held in Copenhagen through June 28.

Visa’s planned investment is part of a global strategy to open up the Visa ecosystem and support a broad range of new partners who are helping to redefine and enhance the purchase experience for millions of consumers globally. Klarna develops products that address changing consumer preferences, giving them the flexibility and seamless experience they expect when shopping.

“Klarna has demonstrated an expertise in consumer credit and online purchasing and together, we share a vision for how today’s online and mobile commerce experiences can be as simple as they are in the real world,” said Jim McCarthy, executive vice president, innovation and strategic partnerships, Visa Inc. “Visa is committed to partnering with a new generation of partners and payment providers to bring secure, online commerce to many more consumers in Europe. We look forward to working more closely with Klarna to accomplish this.”

“The Visa and Klarna partnership is a natural fit. We both understand consumer credit and the value of consumer centricity in developing innovative payment solutions,” said Sebastian Siemiatkowski, chief executive officer and co-founder of Klarna.

“Klarna continually strives to offer the most advanced choice of payment solutions for our merchants and give consumers the smoothest buying experiences. Partnering with Visa will give us the opportunity to strengthen our global presence and product portfolio by leveraging our combined assets. We are excited about the possibilities of what we can do together.”

According to Forrester, Europe is expected to see double-digit growth in online sales in the coming years. By 2021, the growth in the number of connected devices and improvements in mobile connectivity will drive online sales to reach 12 percent of the region’s total retail sales.  Additionally, online retail sales are expected to grow at an average rate of 12 percent per year over the next five years in Western Europe.

About Visa
Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead with prepaid or pay later with credit products. For more information, visit our website (www.visaeurope.com), the Visa Vision blog (vision.visaeurope.com), and @VisaInEurope

About Klarna
Klarna is one of Europe’s leading payments providers that aims to make the payment process simple, smooth and safe for customers and its merchant partners. Klarna works together with 70,000 merchants to offer payment solutions to more than 60 million users in Europe and North America. Klarna, headquartered in Stockholm Sweden, has 1,500 employees and is active in 18 countries. The company was founded in 2005 was recently named as one of the top disrupter companies in the world by CNBC.

Editor’s Note: Jim Lofgren, vice president and general manager of Klarna North America, is available to explain the announcement and provide commentary for print and broadcast organizations. Contact the Feintuch Communications team for assistance.

SOURCE Klarna; Visa

Richard Anderson, 718-986-1596; Doug Wright, 212-808-4903 ; Henry Feintuch, 212-808-4901; Feintuch Communications, klarna@feintuchpr.com

Visa Commits to Strategic Investment in Klarna; Companies Plan Partnership Deal

NEW YORK and COPENHAGEN, Denmark, 2017-Jun-29 — /EPR Retail News/ — Visa (NYSE:V) and Klarna announced they have reached an agreement for Visa to invest in Klarna, and intend to develop a future strategic partnership. Klarna is one of Europe’s fastest growing online payments companies, serving 60 million consumers and 70,000 retailers.

The equity investment and planned partnership demonstrate Visa and Klarna’s shared vision to accelerate online and mobile commerce for the benefit of consumers and merchants across Europe. The announcement was made at Money 20/20 being held in Copenhagen through June 28.

Visa’s planned investment is part of a global strategy to open up the Visa ecosystem and support a broad range of new partners who are helping to redefine and enhance the purchase experience for millions of consumers globally. Klarna develops products that address changing consumer preferences, giving them the flexibility and seamless experience they expect when shopping.

“Klarna has demonstrated an expertise in consumer credit and online purchasing and together, we share a vision for how today’s online and mobile commerce experiences can be as simple as they are in the real world,” said Jim McCarthy, executive vice president, innovation and strategic partnerships, Visa Inc. “Visa is committed to partnering with a new generation of partners and payment providers to bring secure, online commerce to many more consumers in Europe. We look forward to working more closely with Klarna to accomplish this.”

“The Visa and Klarna partnership is a natural fit. We both understand consumer credit and the value of consumer centricity in developing innovative payment solutions,” said Sebastian Siemiatkowski, chief executive officer and co-founder of Klarna.

“Klarna continually strives to offer the most advanced choice of payment solutions for our merchants and give consumers the smoothest buying experiences.  Partnering with Visa will give us the opportunity to strengthen our global presence and product portfolio by leveraging our combined assets. We are excited about the possibilities of what we can do together.”

According to Forrester, Europe is expected to see double-digit growth in online sales in the coming years.  By 2021, the growth in the number of connected devices and improvements in mobile connectivity will drive online sales to reach 12 percent of the region’s total retail sales.  Additionally, online retail sales are expected to grow at an average rate of 12 percent per year over the next five years in Western Europe.

 

About Visa

Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead with prepaid or pay later with credit products. For more information, visit our website (www.visaeurope.com), the Visa Vision blog (vision.visaeurope.com), and @VisaInEurope

 

About Klarna
Klarna is one of Europe’s leading payments providers that aims to make the payment process simple, smooth and safe for customers and its merchant partners. Klarna works together with 70,000 merchants to offer payment solutions to more than 60 million users in Europe and North America. Klarna, headquartered in Stockholm, Sweden, has 1,500 employees and is active in 18 countries. The company was founded in 2005 was recently named as one of the top disrupter companies in the world by CNBC.

Visa adds 13 new partners to participate in its token service provider (TSP) program

Visa Adds Thirteen New Token Service Providers to Broaden Global Access to Visa Token Service

SAN FRANCISCO & NEW YORK, 2017-Jun-08 — /EPR Retail News/ — Today (June 7, 2017), Visa (NYSE:V) announced it has signed 13 new partners to participate in its token service provider (TSP) program, as the payments industry shifts from plastic to digital and broader access to new standards, such as tokenization, are needed. With demand expected to increase for payments to be embedded into a growing number of devices, services and experiences, Visa has built out a global network of partners to offer secure, digital payment token services and ensure that regardless of form factor, an Internet-of-Things (IoT) device, appliance, wearable or beyond, can become a more secure place for commerce.

The newest Visa partners share a desire to advance digital and device-based payments, and represent all major regions of the globe:

  • Global: FitPay, Infosys, Rambus
  • Asia Pacific/India: Mahindra Comviva, PayCraft
  • Central Europe, Middle East & Africa: Digiseq, FOO, Pri-Num, Seglan
  • Latin America & the Caribbean: HST, Prosa, VeriTran, YellowPepper

“A potential tidal wave of new payment accounts is approaching — conservative estimates expect 21 billion Internet-connected devices in just three more years,* so having both the partner network and the right technology in place are fundamental to driving payments on those devices,” said Jim McCarthy, executive vice president, innovation and strategic partnerships, Visa Inc. “We are proud to welcome so many great new partners to the token service provider program, to help us extend tokenization to new devices and form factors and give consumers more payment experiences that they love.”

Visa first announced its token service provider program in October 2016 with initial partners Giesecke+Devrient (G+D), Gemalto and Inside Secure. Since then, G+D, FitPay, Infosys, Inside Secure, and Pri-Num, have been Visa Ready-qualified and begun integrations of Visa technology with partners. The Visa Ready Program provides structure and clarity to allow partners to quickly introduce devices, software, and solutions that can initiate or accept Visa payments.

“Commerce is quickly spreading from computers, smartphones and tablets to connected endpoints of all shapes and sizes,” said Jordan McKee, principal analyst, 451 Research. “Consumers now expect to be able to purchase goods and services at any given time or place on the device of their choosing. What’s more, they expect the experience to be not only secure, but easy-to-use. To meet these elevated demands, commerce stakeholders must collaborate on approaches such as tokenization to ensure security and usability are maintained at scale.”

Visa’s token service provider program gives technology companies a standards-based approach and access to Visa’s broad network of tools and services, including the Visa Token Service, as well as integration, development and marketing support. The program also helps expand the market for tokenization to other companies as they develop new and secure digital payment services and promotes consistency envisioned in the EMVCo token standards.

Tokenization is a payment security technology that replaces cardholder information, such as account numbers and expiration dates, with a unique digital identifier (a “token”) that can be used for payment without exposing a cardholder’s more sensitive account information.

Any organization interested in working with Visa’s global network of token service providers to become a token service requestor can contact Visa directly at Tokenrequester@visa.com.

** Gartner, IoT report, February 2017, http://www.gartner.com/newsroom/id/3598917

About Visa

Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead with prepaid or pay later with credit products. For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews.

SOURCE: Visa Inc.

Visa Inc.
Kryssa Guntrum
415-805-4488
kguntrum@visa.com