Issuers looking to offer a secure and scalable mobile payment app to their cardholders without the heavy-lifting of building one can now deploy the Visa Digital Commerce App. This issuer-branded mobile payments solution makes it simple to enhance the cardholder experience anytime, anywhere.
Consumer demand for convenient mobile services, including mobile payment, has never been stronger. The total value of mobile payment transactions is projected to grow 210 percent in 2016. To address this opportunity, Visa has launched Visa Digital Commerce App with a rich set of mobile features that issuers can offer their cardholders. With the app, issuers provide their branding and select the specific features to deploy, including tokenized contactless payments, fingerprint authentication, card controls, alerts, account balance, transaction history and more. Once the app is customized with features that issuers know are most important to their cardholders, the issuer then simply launches the app to the appropriate app stores for cardholders to download.
Behind the scenes, Visa manages the solution end-to-end, dramatically reducing the resources, time and cost that issuers would need to build and operate their own solution. With the Visa Digital Commerce App, issuers can count on the reliability, scalability and security they’ve come to expect from Visa. Moreover, Visa is committed to innovating and enhancing the app as consumer needs continue to evolve. The roadmap for the Visa Digital Commerce App includes person-to-person payments; digital card issuance; as well as offers, rewards and loyalty. In turn, consumers get a mobile payments application they expect from their issuer.
“The Visa Digital Commerce App brings together a comprehensive set of services to empower financial institution clients of all sizes to quickly offer their own digital payment experience to cardholders, while keeping their brand and relationship with the cardholder front and center,” says Oliver Jenkyn, group executive, North America, at Visa Inc. More than 40 U.S. financial institutions are already on board, including Affinity Federal Credit Union, PNC Bank and Webster Bank. In addition to making the Visa Digital Commerce App directly available to financial institutions, Visa is also offering the app to its processor and go-to-market channel partners for their financial institution customers. Jenkyn adds, “We are getting great feedback from clients who are implementing the app and are excited to now make it available to more financial institutions nationwide.”