Visa, American Express and Discover Card sign on for Google Wallet
Posted by Seth Planck
September 19th, 2011 at 7:29 PM Filed Under Latest News, Press Release
Google lands Visa, American Express and Discover Card for Google Wallet
We knew Google Wallet was launching, but the big news today is that Google has reached deals with Visa, American Express and Discover Card who will be joining MasterCard on the Google Wallet platform. Ironically the Visa press release hit 15 minutes before the official Sprint release hit our inbox. Below we have the Visa payWave press release for your viewing pleasure, but in essence Google Wallet agreement extends Google Wallet to Visa account holders worldwide. What isn’t clear is whether this is the beginning of Google taking Google Wallet and Google Offers platform planet wide, or if it just means that Google Wallet customers can use payWave merchants who are equipped with contactless NFC POS terminals on a global basis.
The Google Wallet may soon be global thanks to Visa who wishes to push NFC payments
We have been waiting for the Google Wallet to launch since May. We have witnessed how Isis attracted Visa, American Express and Discover Card a few months ago. There also hasn’t been any new NFC phones that would support Google Wallet. However, on the back of today’s news, Google has come out in fighting form. Visa has always maintained a spirit of coopertition when it comes to NFC mobile wallets and NFC payments which makes sense. Visa obviously regards Google as a big enough player to support the Google Wallet on a global basis.
“Mobile technology is transforming how people pay for goods and services,” said Jim McCarthy, Global Head of Product, Visa Inc. “This agreement builds on Visa’s strategy of enabling consumers to make mobile payments with whatever device they choose using the trusted accounts they already have.”
“This agreement extends Google Wallet to Visa account holders worldwide,” said Stephanie Tilenius, Vice President of Commerce and Payments at Google. “This is a crucial step towards realizing our shared vision for the future of mobile commerce – one that creates a rich shopping experience for consumers and merchants alike.”
The wallet wars just stepped up a gear and we can expect it to get bloody from here on out, but for now Visa and Google Wallet have a licensing agreement for global Google Wallet NFC payments. Oh, and we don’t like to say that we told you so (lie) but we reported a rumor that Google would be announcing more news than Google Wallet’s coming out party.
September 19, 2011 04:10 PM Eastern Daylight Time
Visa and Google Sign Licensing Deal to Boost Mobile Payment Adoption
SAN FRANCISCO–(BUSINESS WIRE)–Visa Inc., Visa Europe and Google today announced that Google has received a worldwide license to Visa payWave, an innovative NFC-based payment technology. Visa payWave enables consumers to make fast and secure payments at retail locations by waving their mobile phone in front of a payment terminal and is currently accepted at hundreds of thousands of retail locations worldwide.
“This agreement extends Google Wallet to Visa account holders worldwide”
The agreement sets the stage for Visa-issuing banks worldwide to enable Visa account holders to add their credit, debit and prepaid accounts to Google Wallet – a mobile application that turns a smart phone into a digital wallet. This is the latest effort by Visa and Google to simplify the consumer shopping experience by enabling them to make mobile payments using their mobile phones.
“Mobile technology is transforming how people pay for goods and services,” said Jim McCarthy, global head of product, Visa Inc. “This agreement builds on Visa’s strategy of enabling consumers to make mobile payments with whatever device they choose using the trusted accounts they already have.”
“This agreement extends Google Wallet to Visa account holders worldwide,” said Stephanie Tilenius, vice president of Commerce and Payments at Google. “This is a crucial step towards realizing our shared vision for the future of mobile commerce – one that creates a rich shopping experience for consumers and merchants alike.”
Today’s news furthers Visa’s progress in making its products available as a payment option in any digital wallet. This includes Visa’s own digital wallet announced earlier this year which is designed to provide consumers with “click-to-buy” payment functionality and access to their Visa and non-Visa accounts using a personal computer or smart phone, to make purchases online and at retail locations.
Google Wallet is designed to enable an open commerce ecosystem enabling consumers to carry payment cards, offers, loyalty and gift cards — and eventually much more. Google is also working with top retail brands to create a new mobile shopping experience.
About Visa Inc.:
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 digital currency. Underpinning digital currency is one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed 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, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.
About Visa Europe:
As a leader in the development and implementation of payments technologies, Visa Europe is at the forefront of contactless and mobile payment innovation in Europe.
Visa Europe is owned and operated by more than 4,000 European member banks and was incorporated in July 2004. In October 2007, Visa Europe became independent of the new global Visa Inc., with an exclusive, irrevocable and perpetual licence in Europe. As a dedicated European payment system it is able to respond quickly to the specific market needs of European banks and their customers – cardholders and retailers – and to meet the European Commission’s objective to create a true internal market for payments. For more information, visit www.visaeurope.com.
About Google:
Google (NASDAQ: GOOG) is a global technology leader focused on improving the ways people connect with information. Google’s innovations in web search and advertising have made its website a top internet property and its brand one of the most recognized in the world. For more information, visit www.google.com/about.html.
END: Visa signs on to Google Wallet Press Release