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PERSPECTIVES ON DIGITAL CURRENCY

Feb 3, 2012

acceptance

Campaign Donations Go Mobile – Acceptance, That Is

We’re always pleased to see payment technology innovation that creates more opportunities for people to use their Visa products, so we read with interest that the U.S. presidential candidates are doing just that, by deploying Square’s technology to capture additional campaign contributions.    

The news of the Obama and Romney campaigns equipping staff, volunteers and community organizers with Square payment technology makes simple sense.  Campaign organizers can now “strike while the iron is hot” by soliciting contributions on site at rallies and other campaign events when donors are likely to be fired up to contribute to their favorite candidate

Deployments like this can save hundreds of man-hours and increase fundraising receipts.  Donors will now have the option of mobile face-to-face card payments through Visa’s network with the convenience of automated email receipts for easy tax filing.  As one of the world’s largest payment networks and an early investor in Square, Visa is encouraged to see this growth of payment card acceptance, no matter how the campaigns end.

“Anything that reduces the barrier to donate is going to help us with our supporters,” Zac Moffatt, the Romney campaign’s digital director told The New York Times.

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Posted by: Ryan Donovan, Corporate Relations on February 3, 2012 at 9:10 am

Oct 27, 2011

Neiman Marcus to Accept Visa at Stores Nationwide for First Time

One of the premier luxury retailers, Neiman Marcus is known for the often exotic and always exciting items in its annual Christmas Book. This year, there’s a new way to pay for all those exclusive gifts for the individual who has everything, and every other purchase at Neiman Marcus stores: Visa.

Today, Neiman Marcus announced it will begin accepting Visa credit, debit and prepaid cards for the first time at all of its 41 U.S. stores. Neiman Marcus stores will start accepting Visa on November 1, just in time for the holiday shopping season, making it easier and more rewarding to shop for loved ones, or to buy something special for yourself. The deal expands on Visa and Neiman Marcus’ existing online acceptance relationship.

We’re excited to become an integral part of the Neiman Marcus store shopping experience as consumers gain the ability to use their Visa card inside one of the most iconic retailers in the world. Neiman Marcus is highly regarded for its distinctive merchandise and superior service, and Visa is the payment method of choice for affluent consumers around the world, including Visa Signature cardholders (Visa Signature is our premium card offered by banks in the United States).

Neiman Marcus made the decision to accept Visa in its stores after listening to their customers and hearing that they wanted more flexibility in their payment choices. The luxury retailer is also making concerted efforts to insure their customers can shop with them anywhere, anytime, via any device she or he chooses to use. By accepting Visa, tens of millions of retailers around the world like Neiman Marcus benefit from access to nearly 2 billion cards and more business channels (such as online and mobile), as well as guaranteed payment, fast transactions, greater risk management and the potential for increased sales.

So whether you’re looking for his and hers dancing water fountains, or just this season’s must-have designer apparel and accessories, you can go to Neiman Marcus with your Visa card.

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Posted by: Bill Dobbins, Head of Business Development, Visa Inc. on October 27, 2011 at 6:17 am

Apr 27, 2011

Square Supports Visa’s Best Practices

Today, Visa released our mobile acceptance best practices for merchants, software developers and device manufacturers who are using consumer mobile devices to facilitate the acceptance of card payments. Among other things, our best practices call for encryption of cardholder data at the read head. We believe the guidelines foster a better understanding of merchant and service provider responsibilities related to securing cardholder data when a mobile phone is used as an acceptance device.

We are pleased that Square, the Jack Dorsey start-up that enables small businesses to accept card payments through mobile devices, has expressed its support of Visa’s best practices and its intent to adopt them. Today, Square COO Keith Rabois posted a blog on our Security Summit site saying, “The adoption of best practices will help increase trust in innovative payment solutions. Of course, Square complies with all current industry standards, and we are committed to meeting or exceeding industry guidelines as they evolve.” 

And, at the Visa Security Summit that we are hosting in Washington, DC today, Square executive Sam Quigley said in response to a question about their future plans that “Square will be releasing an encrypted reader, it will continue to be free, and it will be available this summer.”

Square’s support of our best practices is an important step toward ensuring greater security for mobile acceptance devices.

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Posted by: Ellen Richey, Chief Enterprise Risk Officer on April 27, 2011 at 12:47 pm

Mar 3, 2011

VISA PROGRAM SUPPORTS MERCHANT ADOPTION OF CHIP-ENABLED TERMINALS

Merchants outside the U.S. interested in accepting chip-enabled payments at the checkout counter can get a boost from Visa. A new initiative launched by Visa encourages merchants to deploy payment terminals that can support dynamic data authentication.

Visa has long seen dynamic data technology, such as chip, as a key element in our long term security and authentication strategy. With dynamic authentication, stolen card information becomes useless to criminals, reduces counterfeit fraud and helps take merchants out of harms way.

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Posted by: Eduardo Perez, Global Payment System Security on March 3, 2011 at 12:38 pm

Mar 2, 2011

Thin Mint for a Swipe?

The next time a Girl Scout asks if you want a Thin Mint or Samoa cookie, she may follow up with another question: “Cash or credit?” In another sign of the migration to digital currency, PaymentsSource reported that Girl Scout troops in San Diego and Northeast Ohio would begin accepting card payments for sales of their popular cookies. The troops will use smartphones equipped with apps and devices that allow buyers to swipe and sign for their cookie purchase. The card acceptance technology could not only help improve sales but also help budding entrepreneurs, like the Girl Scouts, who recognize the benefits that digital currency provides.

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Posted by: Erika White, Visa Corporate Relations on March 2, 2011 at 12:31 pm