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Visa Debuts New Mobile Payment Standards

Friday, May 29, 2015 5:14:00 AM PDT | VentureDeal
   San Francisco, California  --  Financial services company Visa (NYSE: V) has announced a new program for commercial standards for mobile payments.

Called the Visa Digital Enablement Program (VDEP), the system uses the company's secure token technology and provides a toll-free framework for financial institutions, merchants and other technology companies.

According to the company, the new system makes it easier to integrate, no cost to participate, improve security and international scale.

Visa highlighted that Google's new Android Pay offering is the first partner to participate in the program at launch.

Up to $744 billion in computer and mobile device transactions are expected to occur in 2018, according to Business Insider Intelligence.

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