According to financial experts, Visa’s new partnerships are keeping the company competitive despite new regulations such as the Credit CARD Act and the Durbin Amendment.
Tim Chen, founder of NerdWallet.com, a site dedicated to educating consumers about credit card offers, said that Visa’s recent deal with Monitise PLC, a British mobile services provider, will increase Visa’s presence in the international community and help it to compete with Paypal, BlingNation and Google wallet.
Visa will link Monitise with its debit processing service operations to provide person-to-person payments, mobile alerts, promotional offers and remote deposit capture, Chen said, NerdWallet.com reports.
The partnership will promote prepaid cards because prepaid card swipe fees were not regulated in the Durbin Amendment.
Visa also recently acquired Fundamo, a South African based mobile payments provider. Additionally, Visa bought a stake in Square Inc., which devised a credit and debit card reader for iPhones, iPads, iPod Touches and Android phones.
In an effort in regain revenue lost in recent interchange and interest rate reform laws, Visa has also teamed with Gap. The Gap Visa card allows Gap access to data provided by enrolled customers while Visa earns revenue by charging for the data, according to NerdWallet.com.