Visa’s Digital Wallet Offering a Number of Special Features

by John Stevenson on January 22, 2012

With the technology offered by Visa, credit card purchases are just a click away. Visa’s digital wallet stores debit and credit card details for Visa and other credit cards, and customers can take advantage of the opportunity to make click-and-buy transactions. Whether on a mobile at the mall or at the computer, making purchases requires clicking a button only. Shopping is made much more convenient as customers do not have to manually enter account details.

The widespread use of mobile technology and Internet has changed the way people transact and connect around the world, explains Visa Canada’s head of products Mike Bradley. It is not only in Canada that we see a migration away from checks and cash, and it goes along with a migration toward the security and convenience electronic payments offer.

What are some of the special features offered with the new technology? Visa’s digital wallet comes with a menu, giving clients the option to set preferences for how the digital wallet will work. It allows users to control and customize the features of the wallet – they can designate an account to be accessed, depending on the purchase amount or merchant type, and control their privacy settings. Customers can opt to receive promotions and discounts from participating merchants as to personalize their shopping experience. Additional features extend the capability and utility of payments and create new opportunities for clients to use Visa credit and debit cards (Credit Cards).

To spur the adoption of the new technology, Visa started a new developer program that will make it possible for financial institutions, merchants, gaming developers, and retailers to access their payment system. Visa envisions the new technology as an open payment system in that, consumers can fund it from different credit cards. Moreover, it can be used to pay for purchases from anywhere. The developer program will make it easier to initiate and accept payments on mobile phones. Game developers, for instance, can use these tools for creating simpler in-game purchases. Wal-Mart, Target, and other big brand retailers can make use of the tools so that it is easier for customers to make purchases from their websites via mobile phones. Apart from making it easier to pay via a mobile phone, Visa hopes that developers can use these tools to create easy ways for people to make person-to-person payments internationally and domestically (CNet).

There are other benefits to using Visa’s digital wallet, and a major one is that clients can make purchases without having to share their account details with sellers. The secure checkout allows for quick transactions by entering one’s password and email address. Customers can choose which credit card to use when making purchases, including Discover, American Express, MasterCard, and Visa. Moreover, customers can track all of their purchases in one account. At present, Visa is working on offering its clients the ability to get relevant deals, receive and sent money, make mobile payments, and donate to their favorite cause ( by Visa).

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