Introducing the Visa Mobile Payment Platform

The Visa Mobile Payment Platform in Canada will offer Visa^® cardholders the ability to make contactless payment transactions with their cell phones. New technologies, such as chip and Near Field Communication, will make it possible to turn a cell phone into an electronic wallet. In a recent survey, over half of those surveyed said that they would be interested in a phone with mobile payment capabilities. ¹

Visa is working with financial institutions and telecommunications companies to make mobile payment technology and payment related services available to Visa cardholders. Beginning in spring 2009, Visa will be conducting a mobile payment market trial in the Toronto area.

What is the Visa Mobile Payment Platform?

The Visa Mobile Payment Platform will extend the functionality of the Visa payWave^™ contactless payment solution to cell phones. Using Near Field Communication (NFC) technology, the Visa Mobile Payment Platform allows a cell phone programmed with the Visa payWave application to communicate with a secure contactless reader, such as the ones used for the Visa payWave contactless payment solution, to complete a Visa card transaction.

Visa mobile payments are ideal for merchant outlets with high volumes of customers where speed of service is essential.

How does a Visa mobile payment work?

• The customer waves a cell phone specially programmed with the Visa payWave application in front of a secure contactless reader at the check-out counter.
• The Visa payWave application wirelessly transmits the payment data directly to the contactless reader to complete the Visa mobile payment transaction.
• The reader will indicate when the transaction has been processed. The customer simply follows the prompts on the reader.
• Merchants are not required to provide a transaction receipt unless one is requested by the customer.

Is the Visa Mobile Payment Platform secure?

• The Visa Mobile payment platform leverages the security benefits of both chip and NFC technologies, providing you and your customers with a secure contactless payment solution.
• NFC is designed for very short-range communication (under four centimeters) to ensure that transactions are secure and that the user is in control of the process including their personal data, at all times.
• Only Visa-approved contactless readers can process payment data from cell phones programmed with the Visa payWave application

What are the benefits of the Visa Mobile Payment Platform?

Greater speed and convenience - your customer simply waves their cell phone with the Visa payWave feature in front of a secure contactless reader. With no more fumbling for cash and no customer signature or PIN required, you'll see faster service at check out, shorter lines and less abandonment. Lines have been shown to be reduced by as much as 23%², resulting in higher turnover at the point-of-sale.

Cost savings - faster service translates into increased efficiency and cost savings, while less cash handling helps reduce the costs of cash management and slippage.

Higher average ticket size - consumers typically spend more when using cards than paying with cash, with an average incremental ticket size increase of 22% versus cash.³

Enhanced security - the Visa Mobile Payment Platform leverages the security benefits of both chip and NFC technologies providing you and your customers with a secure contactless payment solution.

For most merchants, a Visa payWave terminal simply connects to your existing chip reading POS terminal.

¹Hotspex: Visa Mobile Payments Research, September, 2007.
² Visa Taiwan Visa Wave Issuers & Acquirers Monthly Member Contactless Sales Transactions Report, 2005-07.
³ Visa Asia Pacific, Malaysia Pilot Results, 2006.

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