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Visa Rolls Out New Suite of Mobile Products for U.S. Financial Institutions

The card scheme will partner with U.K.-based mobile tech provider Monitise.

Visa announced today it has partnered with mobile banking and payments tech company Monitise to bolster its issuer processing platform, Visa DPS, to allow financial institutions to offer their account holders a suite of new mobile services, including the ability to monitor account history and balances, transfer funds between accounts, and receive real-time transaction alerts on their mobile devices.

These new services can be accessed by any mobile device, mobile channel, and with any eligible debit, credit or prepaid account, Visa said. Additional services that are currently in development include mobile check deposit, mobile (NFC) payments, mobile offers, and support for, Visa’s digital wallet.

Visa said that enabling mobile services through the Visa DPS platform directly aligns with the company's strategy to accelerate the global shift to electronic payments, to make payments more secure, more convenient and to bring electronic payments to more consumers in more places.

"The services offered by Visa DPS are a one-stop solution for Visa clients who want to serve their customers through the mobile channel without making significant investments in hardware, software or mobile expertise," said John Partridge, President, Visa Inc, in a statement.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

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