Visa launched a new partner program on Friday designed to quicken the global proliferation of payment solutions and drive the global shift from cash to electronic payments.
The Visa Ready Partner Program allows mobile network operators, technology firms and mobile device manufacturers to more “easily navigate the complexities of the payments ecosystem, and to gain access to Visa IP, licenses and best practices.”
“The pace of innovation in the payments industry requires a new approach that ensures innovative payment methods can be tested, approved and commercialized quickly,” Jim McCarthy, the global head of product for Visa, said. “While it is critical that we ensure new payment methods are secure and reliable, it is equally important to allow great ideas to become new ways to pay and be paid.”
The program will allow payment technology innovators to ensure that software and devices that initiate or accept Visa payments are compatible with the company’s requirements, which vary by country. The program also provides a framework to allow innovators to collaborate with Visa.
Additionally, the program will allow financial institutions and merchants to more easily adopt new, Visa-approved payment methods that can help drive growth and expand business using existing approval and certification processes.