Visa Expands Global Payments, Partners with IBM Watson on IoT
Visa is widening its global payments capabilities, announcing its mVisa QR-based payment service will be available in seven new countries to provide simple, secure point-of-sale (POS) and e-commerce transactions.
"In India and these countries, there are many street vendors on the side of the road and the telephony infrastructure isn't as developed as the rest of the world, so these vendors have jumped straight to mobile," "So a vendor has a static QR code and a consumer walks up and grabs some vegetables, scans the paper QR code, inputs the payment, and the vendor gets a text message that they just received $10." Explained Avin Arumugam, Senior Vice President of Internet of Things for Visa. Read the full article here.