Visa connects to operators worldwide through NeuStar for mobile payments
Posted by Cian on Jun 24, 2009 9:23
Tags: Mobile Banking, mobile carrier, mobile finance, mobile network, mobile operator, mobile payments, mobile transactions, neustar, visa
Visa and NeuStar have announced an alliance to bring mobile finances straight in at the operator level. Through NeuStars history in global carrier inter-connections, Visa hopes to create a system of mobile transactions that will work reliably all over the world.
The basic idea here is that since both Visa and NeuStar both have existing worldwide services, it’ll be easy for Visa to connect it’s transaction services with operators. And since that transaction network will be in place world-wide, it will be able to speed the creation of mobile services that operate globally, and provide an identical user experience for people using m-banking services. The role of NeuStar in this deal will be to guarantee safe and reliable transfer of data between everyone involved - from operators, to users, to financial institutions.
Via PC World
From the release:
“The Visa-NeuStar alliance provides Visa a single point of connection to mobile network operators around the globe and supports Visa’s global strategy to extend its products and services to the mobile channel,” said Elizabeth Buse, Head of Product at Visa Inc. “This initiative has the potential to accelerate delivery of mobile financial services in both emerging and developed economies. Those services include mobile payments, wireless top-up of prepaid accounts, money transfer, value-added services such as alerts and offers and mobile acceptance of electronic payments.”
“NeuStar, Visa and our operator partners represent trusted brands, Visa in payments and NeuStar in network data exchange, and operators in mobile communications,” said Steve Edwards, Senior Vice President of Converged Addressing Services at NeuStar. “This collaboration enables network operators, financial institutions, Visa, and consumers to move rapidly into the world of mobile payments and take advantage of the exciting opportunities ahead. We look forward to joining Visa, financial institutions, and mobile network operators in developing best practices and applications for mobile financial services.”
What we think?
I know mobile payment services are advancing at a dizzying rate, but I’m still excited about this announcement. For m-finance to really take off, it requires exactly what this offers: a trusted, global inter-connections company service enabling a global network of connections between carriers and one of the worlds biggest transaction companies. It’s also nice to see a company of Visa’s size taking confident steps, especially after MasterCard tip-toed into America with MoneySend last week.
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