Visa Intros New Mobile Prepaid Product | TechTree.com

Visa Intros New Mobile Prepaid Product

Allows mobile users to carry out secure electronic payments anywhere in the world.

 

Visa, the international financial services company, has introduced a new product that allows secure financial services and electronic payments over the mobile phone. The Visa prepaid account can be accessed through a simple menu on a mobile phone for secure, reliable, and globally interoperable electronic financial transactions. The product has been targeted at and launched in several developing countries including India.

Powered by Fundamo, a mobile money platform in developing countries acquired by Visa recently, this product can connect existing mobile money services with Visa's global payment network, VisaNet. With a huge number of mobile handset users in India, this method of payment coupled with the trust that the Visa brand commands, has a good chance of succeeding. The details of this product are not completely clear, but this post will be updated as soon as they become available. We had reported earlier that the RBI has given a go-ahead to MMPL, another company specialising in mobile money transactions, and we think that more will soon join the fray due to the eased restrictions.


TAGS: Mobile Phones, Internet, Jayesh

 
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